The multi-component system of p-n-Decyloxybenzoic acid (10OBAC), 4, 4'-di-n-heptyl-azobenzene (7AB7) and cholesteryl nanonate (CN), exhibits liquid crystalline mesophases, like cholesteric and induced smectic phases, such as SmA, SmC, ReSmA, SmC* and SmE phases sequentially when the specimen is cooled from its isotropic phase. These phases have been observed by using microscopic and optical anisotropic technique. The experimentally measured optical transmittance and electrical conductivity has been discussed based on the phase transition behavior of different temperature.