Probiotic microorganisms were isolated from fermented dairy products viz. yogurts, cheese, whey, fermented cream, fermented fruits & vegetables. For isolation modified MRS, Bifidobacterial Medium, Leuconostoc medium & Lee’s agar medium were used. Isolation procedures were carried out under aerobic and anaerobic environments. Out of 200 organisms 43 were finally selected for detail studies. Among all the selected microbes, 34 isolates resembled the genus Lactobacillus, while other isolated genera were Leuconostoc, Streptococcus and Pediococcus. All the selected organisms were tested for their antagonistic activity against randomly selected pathogenic organisms and were studied for nutritional values during fermentation of selected fruits and vegetables. All the organisms had antagonistic effects, but few showed significant antagonism against pathogenic bacteria and fungi. Nutritional parameters viz. moisture, protein, nitrogen, fat and total sugar (e.g. Cabbage, Soya bean & Star fruit juice) were also examined, before & after fermentation.