A series of compounds with the general formula A2MB2O6 (A = Zn, Ba, Pb; B = Pb, Ba, Zn, Cu) related to the kotoite structure has been prepared employing high-temperature solid state methods. The substitution of transition elements in place of Zn2+ ions resulted in colored compounds. The optical absorption spectra could be explained based on Tanabe-Sugano diagram and allowed d-d transitions. Dielectric studies on Ba2ZnB2O6, (Ba1.5Pb0.5)ZnB2O6, PbZn2B2O6, Pb1.5Zn1.5B2O6, BaZn2B2O6 and Pb2CuB2O6 at room temperature indicate reasonable values at low frequencies, which decrease on increasing frequencies. Magnetic study of synthesized single-phase compounds BaZnCoB2O6 and Pb2CuB2O6 have been performed. The substitution of Eu3+, Tb3+ and Tm3+ in place of Ba2+ in Ba2ZnB2O6, gives rise to the expected emission of red, green and blue colors. Suitable modifications of the different phosphors in Ba2ZnB2O6, resulted in white-light emission in Ba2ZnB2O6. The Pb2CuB2O6 compound was found to be a good catalyst in the ipso-hydroxylation of arylboronic acids.