Complexes of Co(II), Ni(II) and Cu(II) with Schiff bases derived from 4-methyl, 1-2-dihydro-2-oxoquinazoline have been synthesized. The isolated compounds have been characterized by elemental analysis, molar conductance, magnetic moment and spectral data. On the basis of spectroscopic studies, the Schiff bases, 4-methyl-1-2-dihydro-2-oxoquinazoline semicarbazone [MDOQS] and 4-methyl-1-2-dihydro-2-oxoquinazoline thiosemicarbazone [MDOQT] behaves as a tridentate chelating agent and bonded to the metal ion through amine and imine nitrogen and oxygen/sulphur atoms of either semicarbazone or thiosemicarbazone moiety. The ligands and metal complexes were also screened for antifungal activity.