The study of eclipsing binaries (EBs) is important to accurately determine the stellar parameter and distances. The eclipsing orbit geometry constrains the orbital inclination of the components, and this in turn allows their masses and radii to be precisely derived with help of photometric and radial velocity observations. Many previous studies have shown that  the present stellar evolution models underestimate the radii and effective temperature of low-mass stars. Therefore, the physical parameters determined by double-lines detached eclipsing binaries are necessary for testing and improving the stellar evolution models in low-mass region. A statistically large sample of well characterized EBs is required for this purpose. In addition to that the investigation of close/contact eclipsing binaries offers a way to study the interaction between components, surface activity and different period change mechanisms. The same observational techniques are used for detection and characterization of exoplanet candidates. The number of exoplanets has increased tremendously in last decade due to multiple ground and space based missions. With such a large population of exoplanets, we have a good chance to gain more knowledge about planetary science as previously it was based only on eight known planets of our Solar System.