@Dan ..Thanks for the reference and yes it is Benzoyl chloride not Benzyl Chloride.
@Doc Oc.. I am working on the Structure Activity Relationship study of the molecule and by acylation, my hypothesis is that it will have better biological activity than the lead compound. So, I can not continue further without acylation.
@ Camptzak... I assume that one pair of electrons will be involved with in the molecule and the other pair will be readily available for reaction, making it Nucleophilic. But I am having trouble with deprotonation, were I am struck at.