We present the multi-wavelength observations of asymmetric filament eruption , associated CME and coronal downflows on 2012 June 17-18 during 20:00-05:00 UT . We use SDO/AIA , STEREO-B/SECCHI observations to understand the filament eruption scenario and its kinematics . While LASCO C2 observations have been analyzed to study the kinematics of the CME and associated downflows . SDO/AIA limb observations show that the filament exhibits whipping like asymmetric eruption . STEREO/EUVI disk observations reveal a two ribbon flare underneath the south-eastern part of the filament that is most probably occurred due to reconnection process in the coronal magnetic field in the wake of the filament eruption . The whipping like filament eruption later gives a slow CME in which the leading edge and the core propagate respectively with the average speed of \approx 540 km s ^ { -1 } and \approx 126 km s ^ { -1 } as observed in the LASCO C2 coronagraph . The CME core formed by the eruptive flux-rope shows the outer coronal downflows with the average speed of \approx 56 km s ^ { -1 } after reaching up to \approx 4.33 R _ { \sun } . Initially , the core decelerates with \approx 48 m s ^ { -2 } . The plasma first decelerates gradually up to the height of \approx 4.33 R _ { \sun } and then starts accelerating downward . We suggest a self-consistent model of a magnetic flux rope representing the magnetic structure of the CME core formed by eruptive filament that lost its previous stable equilibrium when reach at a critical height . With some reasonable parameters , and inherent physical conditions the model describes the non-radial ascending motion of the flux rope in the corona , its stopping at some height , and thereafter the downward motion , which are in good agreement with the observations .