A successful one-pot reduction of γ-ketoesters, δ-ketoesters and lactones to the corresponding 1, 4-and 1, 5-diols followed by a lipase catalyzed kinetic resolution coupled with hydrolysis to afford optically active diols is described. The synthetic utility of this one-pot method was illustrated by the oxidation of these chiral diols to respective chiral γ- butyrolactone and δ-lactones. Lipase from Pseudomonas cepacia, immobilized on ...