Antimicrobial resistance poses a serious challenge to global public health. In this study, fifty bacterial strains were isolated from the sediments of fresh water lake and were screened for antibiotic resistance. Out of fifty isolates, thirty-three isolates showed resistance against at least two of the selected antibiotics. Analysis of 16S rDNA sequencing revealed that the isolates belonged to ten different genera, namely Staphylococcus (n=8), Bacillus (n=7), Lysinibacillus (n=4), Achromobacter (n=3), bacterium (n=3), Methylobacterium (n=2), Bosea (n=2), Aneurinibacillus (n=2), Azospirillum (n=1), Novosphingobium (n=1). Enterobacterial repetitive intergenic consensus (ERIC) and BOX-PCR markers were used to study the genetic relatedness among the antibiotic resistant isolates. Further, the isolates were screened for their antimicrobial activity against bacterial pathogens viz., Staphylococcus aureus (MTCC-96), Pseudomonas aeruginosa (MTCC-2453) and Escherichia coli (MTCC-739), and pathogenic fungi viz., Fusarium proliferatum (MTCC-286), Fusarium oxysporum (CABI-293942) and Fusarium oxy. ciceri (MTCC-2791). In addition, biosynthetic genes [polyketide synthase II (PKS-II) and nonribosomal peptide synthetase (NRPS)] were detected in six and seven isolates respectively. This is first report for the multifunctional analysis of the bacterial isolates from a wetland with biosynthetic potential, which could serve as potential source of useful biologically active metabolites.