VO(II), ZrO(II), Hf(IV), (II), Sn(II), V(V), Ru(III), Cd(II), Ho(III) and Yb(III) complexes of N'-(2-hydroxybenzyl)-2-(phenylamino)acetohydrazide (, 1) and N'-((3-hydroxy-naphthalen-2-yl)methylene)-2-(phenylamino)-acetohydrazide (, 13) have been synthesized and characterized by elemental analyses, NMR, IR, UV-Vis, conductance, thermal analyses (DTA and TG). The spectral data showed that the ligands behave as neutral bidentate, monobasic bidentate, monobasic tridentate or bibasic tridentate ligand bonded to the metal ions through the azomethine nitrogen atoms, phenolic hydroxyl group in protonated or deprotonated form and enolic or ketonic carbonyl group. The ligands and their metal complexes exhibit higher antifungal and antibacterial inhibitory effects than parent ligands and the solution of metal ions. Most of metal complexes exhibit higher antifungal activity than standard antifungal drug (amphotricene B). It is also clear that the ligands and their metal complexes have higher antifungal activity than antibacterial activity.