Where i can find this properties panel in blender 2.79 i am trying to find this properties panel in blender 2.79 but i am not able to find it, can you guys tell me that does this panel exists in blender 2.79 or not?
In 2.7 the background images don't work the same way as in 2.8. If you want to load a background image you need to open the N panel, enable Background Images and load your image. Then you can only change the settings you see in the N panel, you can't manually move the image in the 3D view and you don't have access to any settings in the Properties panel:

That said, you can create an Empty &gt; Image, then you have some settings in the Properties panel &gt; Object Data. It doesn't work as a Background or Reference image, but you can use it as such: