The decision to ban the three medicines is likely to come at the meeting of the Drug Technical Advisory Council (DTAB) next week, a senior official said.
Gatifloxacin sold under the brand names Gatiflo, Tequin and Zymar, is an antibiotic which is known to shoot up and also dip blood sugar levels.
While in United Kingdom and United States there is a caution against using the drug, it not banned there.
"The drug causes high blood sugar levels in 10 per cent of cases. The side effect is not life threatening but since there are alternatives available, they need not be prescribed," said Dr Anoop Misra senior diabetes specialist and former Head of the Department of medicine at AIIMS.
According to him, the problem is that most of the clinicians keep prescribing the medicine without knowing the side effects.
Tesagerod on the other hand is used to relieve abdominal discomfort, bloating and constipation associated with irritable bowel syndrome while Deanxit is used to treat depression.
The side effects of Tesagerod include headaches, diarrhea, flatulence and nausea. It has been banned across the world as it showed a ten-fold increase in heart attacks.
"The drugs have been well debated in meetings of the DTAB and the body will take a final decision next week," a senior member said.
The move to ban the drugs will come shortly after the ban on Nimesulide by the DTAB.