Two mungbean crosses namely, GM 4 x BPMR 145 and K 851 x AKM 6822 made during kharif season (2012) were studied for estimation of heterosis, inbreeding depression and transgressive segregation. The F2 and F3 generations of both the crosses were sown in randomized block design and data were recorded on days to initiation of flower, days to maturity, plant height, number of branches per plant, number of clusters per plant, number of pods per cluster, number of pods per plant, pod length, 100 seed weight and seed yield per plant. The significant and positive heterosis was fond in 100 seed weight in both the crosses. None of character showed significant inbreeding depression in cross K 851 x AKM 6822 and in cross GM 4 x BPMR 145, 100 seed weight showed positive and significant inbreeding depression. In F2 generation of GM 4 x BPMR 145, forty per cent plant population showed transgression for seed yield per plant, while in F3 generation 50 % of plant population showed upper limit transgression segregants for seed yield per plant. However in cross K 851 x AKM 6822, F2 generation showed the 80 % transgressive segregants for seed yield per plant while in F3 population maximum 90 % of transgressive segregants were observed for seed yield.