Storage of Hydrogen in a feasible medium is among one of the most intriguing problems that is hindering us from realising the goals of the Hydrogen Economy. Although there are different alternatives that are being explored as prospective hydrogen storage materials, but thus far, no single material has yet been identified that satisfies all the requirements set by the US Department of Energy. Among these alternatives is the consideration of storing hydrogen in Metal Hydrides. But among the problems associated with Metal Hydrides is their low gravimetric storage capacity and high desorption temperatures due to the high stability of these compounds. The issue of low gravimetric storage density can be resolved by using the light Metal Hydrides, but their high stability still remains as a persistent problem. The computational study of a new class of light Metal Hydrides based on carbon is presented in this project. Using the computational techniques like the Density Functional theory and Monte Carlo techniques, possible novel carbon based metal hydride materials are identified.