In this paper a new monolithic Eulerian formulation in the framework of non-classical continuum is presented for the analysis of fluid-strucutre interaction problems. In this respect, Cosserat continuum theory taking into account the micro-rotational degrees of freedom of the particles is considered. Continuum description of the model and variational formulation of the governing flow dynamics for non-classical -fluid-structure interaction nCFSI is presented. The model is analyzed by computing a well known benchmark problem by Hecht and Pironneau [16]. The algorithmic description is presented and implemented using FreeFEM++. Code is validated with the benchmark solution of Turek and Hron [38] in case of flow around a flag attached with cylinder. New microstructral behavior of the solution is studied and numerical simulations and results are shown in the form of figures. Some interesting feature of the flow is observed and microstructural characteristics are discussed.