Magnetic Cataclysmic Variables (MCVs) are binaries in which a primary magnetized white dwarf (WD) accretes material from Roche lobe-filling red dwarf companion. Two major classes of magnetic CVs are Polars and Intermediate Polars (IPs). Due to their interacting nature, magnetic CVs emit radiations over all wavelengths of the electromagnetic spectrum. This thesis is aimed to provide a more detailed multi-wavelength study of MCVs in order to understand the accretion flow at their different evolutionary states. In order to better understand the evolutionary state and accretion flow of MCVs, one need to enhance their sample. Therefore, a sample of candidate MCVs was also taken to classify them into their proper class. A detailed optical (photometry, spectroscopy, and polarimetry) and X-ray timing and spectral analyses were performed in order to accomplish the aim. Using these analyses, an IP V2400 Oph appears to be a disk-overflow system with soft X-ray excess. The source Paloma was found to be a unique disk-less IP, which is nearly synchronous and bridges the gap between polars and intermediate polars. X-ray observations of the source CD Ind show that it has similar characteristics to that of Polar but shows asynchronicity of ∼ 3%. This indicates that it had gone through the Nova explosion. In a sample of candidate MCVs, we classify three sources as an eclipsing polars and three sources as an eclipsing IPs. Among these newly confirmed polars, two are found to be a long period (3.7 hrs for RX J0749.1-0549 and 4.4 hrs for RX J0649.8-0737) and one polar (RX J0859.1+0537) is found in the period gap. The newly identified IPs (IPHAS J013032+622132, IPHAS J025828+635235, and
IPHAS J051814.33+294113.0) are highly asynchronous with asynchronicity of 99% and shows a high degree (1-9%) of linear polarization.