Product testing ensures whether the product is defect free or not and it is an important part of any product before product release. Any inadequacy in testing can result in financial losses and also damage the reputation, brand, and business. Functional testing is important since it verifies that the products functioning meets its requirements. Conventional methods mainly focus on executing test cases rather than generating test cases. Hence there is challenge to create scalable test cases for products with huge volume of data and with complex features. The present disclosure generates a plurality of time bound test cases based on an Artificial Rain Drop (ARD) algorithm. Here, events associated with an event based system are compiled in a tabular format. Each of the plurality of events are represented as a regular expression. Further, timed finite automaton is constructed for each regular expression prior to applying the ARD algorithm.