A process for the preparation of multi-functional additive, aminodi(alkylcyclohexyl) phosphorodithioate, for use as an additive in a lubricantcomposition comprising the steps of:(a) hydrogenating distilled technical cashew nut shell liquid (CNSL) with a catalyst as herein described to fully hydrogenate the olefinic chain and aromatic ring of the precursor and obtain fully saturated CNSL(b) reacting said fully saturated cashew nut shell liquid with phosphorus pentasulfide to obtain corresponding un-polymerized cashew nut shell liquid phosphorodithioic acid, the reaction being carried out at a temperature ranging from 20 to 140°C; and(c) condensing the unpolymerized cashew nut shell liquid phosphorodithioic acid with at least one amine to obtain the amino di(alkylcyclohexyl) phosphorodithioate.2. The process as claimed in claim 1 wherein said catalyst is palladium, platinum or nickel.3. The process as claimed in claim 1, wherein the at least one amine is selected from the group consisting of primary, secondary and tertiary alkyl/alkylaryl amines having an alkyl chain ranging from C1 to C2o4. The process as claimed in claim 1, wherein the at least one amine is a mixture of amines selected from the group consisting of primary, secondary and tertiary alkyl and alkylaryl amines and alkylaryl amines having an alkyl chain ranging from C1 to C2o5. The process as claimed in claim 4 wherein said secondary amines includes dipentylamine, dihexylamine, dicyclohexylamine, bis(2-ethylhexyl)amine, dioctylamine, dinonylamine, didodecylamine.6. The process as claimed in claim 4 wherein said primary amines includes oleyl amine, stearyl amine, isostearyl amine, cocoamine, tallow amine, hydrogenated tallow amine, t-alkylamines, diethanolamine, dodecylamine, decylamine, octylamine, 2-ethylhexylamine and butylamine.

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