Till today lepton flavor violation has not been observed in processes involving charged leptons. Hence, a search for it is under hot pursuit both in theories and experiments. In our current work, we investigate the rates of rare decay processes such as $tau rightarrow mu gamma$ in SU(5) SUSY GUT and found that it satisfies the current bound and is one order below the projected sensitivity. This gives a corroborative argument for the influence of the large top-Yukawa coupling at the GUT scale ($lambda_{tG}$) on flavor violating decay rates of leptons which are investigable at low energy electroweak scale $M_Z$. Secondly, we discuss the decay rates of $mu rightarrow e gamma$ & $tau rightarrow mu gamma$ in MSSM with added right handed neutrino superfields. From this, we set bounds on $tan beta$ and further, we investigate the mass of $tilde{chi}^0 _1$, the LSP, using the rates of LFV decays. In the calculations, the latest updated data from LHC, neutrino oscillation experiments and constraints on branching ratios from the MEG experiment have been used.
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