A new lossy inductor (parallel R-L type) using single current differencing buffered amplifier (CDBA) is presented, which employs only two resistors and a grounded capacitor. The proposed lossy inductor is shown to be useful in realizing an oscillator circuit, which provides quadrature voltage outputs using only two CDBAs, three resistors and two grounded capacitors and offers independent control on condition of oscillation and frequency of oscillation up to a frequency of 61 MHz. Detailed non-ideal analysis including single-pole model for voltage and current gain has also been carried out. SPICE simulation results and experimental results based upon the CDBA constructed from commercially available IC AD844 have been included which confirm the practical workability of the proposed lossy inductor and quadrature oscillator circuit.