3-nitro-1,5-diarylformazans are synthesized by reacting ice cold solution of aryl diazonium salt with alkaline solution of nitromethane in cold. The so synthesized 3-nitro-1,5-diarylformazans have been characterized on the basis of cryoscopic studies, elemental analysis, UV-visible, IR, Mass, 1HNMR and 13CNMR spectral studies. The present studies clearly reveal that the 3-nitro-1,5-diarylformazans have intra molecularly hydrogen bonded symmetrical six membered chelate ring structure. The so synthesized and characterized compounds have been explored for their solvatochromic behavior in various organic solvents of different polarities. The spectral shifts in UV-visible profiles have been revealed using linear solvation energy relationship (LSER) based upon Kamlet-Taft equation.