The supernovae of Type Ibc are rare and the detailed characteristics of these explosions have been studied only for a few events. Unlike Type II SNe, the progenitors of Type Ibc have never been detected in pre-explosion images. So, to understand the nature of their progenitors and the characteristics of the explosions, investigation of proximate events are necessary. Here we present the results of multi-wavelength observations of Type Ib SN 2007uy in the nearby ($sim$ 29.5 Mpc) galaxy NGC 2770. Analysis of the photometric observations revealed this explosion as an energetic event with peak absolute R band magnitude $-18.5pm0.16$, which is about one mag brighter than the mean value ($-17.6pm0.6$) derived for well observed Type Ibc events. The SN is highly extinguished, E(B-V) = 0.63$pm$0.15 mag, mainly due to foreground material present in the host galaxy. From optical light curve modeling we determine that about 0.3 M$_{odot}$ radioactive $^{56}$Ni is produced and roughly 4.4 M$_{odot}$ material is ejected during this explosion with liberated energy $sim 15times10^{51}$ erg, indicating the event to be an energetic one. Through optical spectroscopy, we have noticed a clear aspheric evolution of several line forming regions, but no dependency of asymmetry is seen on the distribution of $^{56}$Ni inside the ejecta. The SN shock interaction with the circumburst material is clearly noticeable in radio follow-up, presenting a Synchrotron Self Absorption (SSA) dominated light curve with a contribution of Free Free Absorption (FFA) during the early phases. Assuming a WR star, with wind velocity $ga 10^3 {rm km s}^{-1}$, as a progenitor, we derive a lower limit to the mass loss rate inferred from the radio data as $dot{M} ga 2.4times10^{-5}$ M$_{odot}$, yr$^{-1}$, which is consistent with the results obtained for other Type Ibc SNe bright at radio frequencies.