Technology has been developed to prepare a biodegradable and environmental friendly composite material from tamarind seed gum and banana fibre. Tamarind seed gum is prepared from the endosperm of roasted seeds of the tamarind tree. The different temperature condition maintained for roasting the seeds are 130, 160, and $180^{circ}C$. Banana fibres are extracted from different varieties of banana trees, which are used for the preparation of composite material. The tensile strength of the composite material is measured and shows dependency on the variety of banana fibre used in the preparation and also the roasting temperature condition of the tamarind seed. Tamarind seed gum (the seed roasted at the temperature condition of $130^{circ}C$) and Red banana fibre composite shows the highest tensile strength of 3.97 MPa and Poovan fibre composites shows the lowest tensile strength of 1.90 MPa. The composite material of other varieties shows tensile strength in between these two values. The percentage of moisture absorption of the composite material has a direct correlation to the tensile strength. In addition, investigation on fire retardant test of tamarind seed gum - banana fibre composite material revealed that untreated and varnish coated banana fibre composite material has good fire retardant characteristics. This is an important feature to promote the use of this composite material as a false roofing material instead of thermocole.