as µ$_{B}$ decreases [11]. Although the existence of CEP was predicted a long time ago by a few lattice calculations, the absence of the CEP in the phase diagram was also noticed in some recent lattice calculations [12,13]. Thus the location and the existence of the CEP in the phase diagram is still a matter of debate. Therefore, it is worthwhile to investigate the precise location of the CEP and to determine its properties in detail with the help of various phenomenological models [9]. However, confusion prevails since the coordinates of the CEP in the (T, µ$_{B}$ ) plane vary wildly in various models. Moreover, we are still not certain whether the conjectured phase boundary represents the chiral and/or deconfining phase transition line. Various calculations based on lattice QCD and/or effective models work with the basic assumption that the finite µ$_{B}$ chiral phase transition is first order and hence the ending point of the line should give the CEP which is a second-order phase tran- sition point. However, we know that the chiral symmetry is broken in the colour flavour locked (CFL) region which has extremely large values of µ$_{B}$ . Theoretically, this topic has largely been investigated using several phenomenological models which can give results in the entire (T, µ$_{B}$ ) plane, whereas ab initio calculations are still limited to very small values in µ$_{B}$ . However, all these efforts result in a very wide variation in the coordinates of the CEP [11]. In a recent paper, we proposed a new EOS for HG fireball where the geometrical size of the baryons in HG is explicitly incorporated as the excluded volume correction in a thermodynamically consistent manner [7]. Furthermore, we used a bag model EOS for the QGP phase and a first order phase transition is constructed by equating pressures of both the phases using Gibbs’ criteria. We thus obtain an interesting result that such a simple picture not only reproduces the entire conjectured phase boundary but the first order phase transition line ends at a CEP beyond which a crossover region persists [7]. The cordinates of CEP as obtained in our calculation are found to be compatible with the prediction of a recent lattice gauge calculation of Gavai and Gupta [14]. Most importantly, we find here a deconfining phase transition in contrast to other calculations where the phase boundary depicts a chiral symmetry restoring phase transition. However, bag model is often a crude description to a gas of weakly interacting QGP and the nonperturbative effect in this model arises from the pressure of the vaccum through the use of a phenomenological bag constant. In the present work, we consider QGP as a system of quasiparticles which are quarks and gluons possessing temperature-dependent masses arising due to vacuum interactions [15-18]. Recently these models are made thermodynamically self consistent by incorporating suit-