Certificateless generalized signcryption adaptively work as certificateless signcryption, signature or encryption scheme having single algorithm for suitable storage-constrained environments. Recently, Zhou et al. proposed a novel Certificates generalized scheme, and proved its ciphertext indistinguishability under adaptive chosen ciphertext attacks (IND-CCA2) using Gap Bi-linear Diffie-Hellman and Computational Diffie-Hellman assumption as well as proved existential unforgeability against chosen message attacks (EUF-CMA) using the Gap Bi-linear Diffie-Hellman and Computational Diffie-Hellman assumption in random oracle model. In this paper, we analyzed Zhou et al. scheme and unfortunately proved IND-CCA2 insecure in encryption and signcryption modes in defined security model. We also present a practical and improved scheme, provable secure in random oracle model.