In the current study we have explored bioprospecting potentials (antimicrobial activity, antibiotic susceptibility pattern, enzyme activity and dye degradation ability) of endophytic fungi isolated from different medicinal plants. Total twenty fungal endophytes were isolated from the leaves of selected plants by using sterilization treatment followed by serial dilution agar plate technique. All isolates were tested for the antimicrobial activity against seven pathogenic strains including two Gram positive bacteria (Staphylococcus epidermidis and Bacillus amyloliquifaciens) and two Gram-negative bacteria (Escherichia coli and Salmonella enterica ser. typhi) and three fungi (Aspergillus fumigatus, Aspergillus sp. and Candida albicans) using agar well diffusion method.  Out of twenty fungal isolates, fourteen endophytic fungal isolates exhibited both antifungal and antibacterial activity. It was observed that 55% of isolates exhibited urease activity, 40% amylase activity, while 45% esterase activity. Malachite green degradation was observed in 20% endophytic fungal isolates. Whereas one isolate was found sensitive to Ketoconazole and Itraconazole in antibiotic susceptibility studies. All other isolates were found resistant to all antibiotics. Further investigations are suggested in order to classify the microorganisms and exploit the potential of the compounds produced to inhibit pathogenic microorganisms and to explore the bioprospecting potential like nitrogen fixation and plant growth promoting activities etc.