This invention relates to novel polyhydroxy curcumins of the formula (I), wherein R and R.sup.1 may be same or different and are selected from H, OH and OCH.sub.3. This invention also includes a process for synthesising the above polyhydroxy curcumins by reacting substituted aromatic alhehydes with a diketone in the presence of boron oxide, alkyl borate and a primary or secondary amine catalyst. If desired, the resulting compounds can be deprotected by known means. These compounds are used as anti-oxidants.