The present disclosure discloses a novel strain of Candida tropicalis (MTCC 25057) which can grown in a wide range of process conditions (temperature, pH), and in the presence of high concentrations of lignocellulosic inhibitors. The said strain has the capacity for simultaneous production of cellulases and xylanses from fermentation of sugars from lignocellulosic mass for production of ethanol, and xylitol.