Bulk metallic glasses have interesting combination of physical, chemical, mechanical, and magnetic properties which make them attractive for a variety of applications. Consequently there has been a lot of interest in understanding the structure and properties of these materials. More varied applications can be sought if one understands the reasons for glass formation and the methods to control them. The glass-forming ability (GFA) of alloys can be substantially increased by a proper selection of alloying elements and the chemical composition of the alloy. High GFA will enable in obtaining large section thickness of amorphous alloys. Ability to produce glassy alloys in larger section thicknesses enables exploitation of these advanced materials for a variety of different applications. The technique of mechanical alloying (MA) is a powerful non-equilibrium processing technique and is known to produce glassy (or amorphous) alloys in several alloy systems. Metallic amorphous alloys have been produced by MA starting from either blended elemental metal powders or pre-alloyed powders. Subsequently, these amorphous alloy powders could be consolidated to full density in the temperature range between the glass transition and crystallization temperatures, where the amorphous phase has a very low viscosity. This Dissertation focuses on identifying the various Fe-based multicomponent alloy systems that can be amorphized using the MA technique, studying the GFA of alloys with emphasis on improving it, and also on analyzing the effect of extended milling time on the constitution of the amorphous alloy powder produced at earlier times. The Dissertation contains seven chapters, where the lead chapter deals with the background, history and introduction to bulk metallic glasses. The following four chapters are the published/to be published work, where the criterion for predicting glass formation, effect of Niobium addition on glass-forming ability (GFA), lattice contraction on amorphization, effect of Carbon addition on GFA, and observation of mechanical crystallization in Fe-based systems have been discussed. The subsequent chapter briefly mentions about the consolidation of amorphous powders and presents results of hot pressing and spark plasma sintering on one of the alloy systems. The final chapter summarizes the Dissertation and suggests some prospective research work that can be taken up in future. The Dissertation emphasizes the glass-forming ability, i.e., the ease with which amorphization can occur. In this work the milling time required for amorphization was the indicator/measure of GFA. Although the ultimate aim of this work was to consolidate the Fe-based amorphous alloy powders into bulk so as to undertake mechanical characterization, however, it was first necessary to study the glass forming aspect in the different alloy systems. By doing this a stage has been reached, where different options are available with respect to amorphous phase-forming compositions and the knowledge to improve glass-forming ability via the mechanical alloying technique. This will be ultimately useful in the powder compaction process into various shapes and sizes at optimum pressure and temperature. The study on mechanical crystallization indicates, or in a way defines, a limit to the process of amorphization, and it was also demonstrated that this phenomenon is more common in occurrence than and not as restricted as it was earlier reported to be.