  Electron Capture (EC) decay of $^{146}$Gd($\it{t_{1/2}}$ = 48d) to the low
lying states of $^{146}$Eu has been studied using high-resolution $\gamma$ ray
spectroscopy. The $^{146}$Gd activity was produced by ($\alpha$, 2n) reaction
at E$_{\alpha}$ = 32 MeV using 93.8% enriched $^{144}$Sm target. The level
structure has been considerably modified from the measurement of $\gamma$ ray
singles, $\gamma\gamma$ coincidences and decay half lives. Lifetime measurement
has been performed for the 3$^-$ (114.06 keV) and 2$^-$ (229.4 keV) levels of
$^{146}$Eu using Mirror Symmetric Centroid Difference (MSCD) method with
LaBr$_3$ (Ce) detectors. The lifetimes for these two states have been found to
be 5.38 $\pm$ 2.36 ps and 8.38 $\pm$ 2.19 ps respectively. Shell model
calculation has been performed using OXBASH code in order to interpret the
results.
