Lignicolous fungi include many wood decay fungi. Studies on molds and decay fungi are necessary to enable us to control their growth on wood and wood products. A survey was undertaken during 2012-2013 to detect the various ligniclous fungi in Andhra Loyola College, Vijayawada and Krishna District, Andhra Pradesh. In a recent study, lignicolous fungi were collected from living trees and fallen branches from Andhra Loyola College, Vijayawada, India. On the basis of occurrence Coriolopsis aspera (Junghuhn) Teng. Fulvifomes nilgheriensis (Montagne) Bondartseva & S. Herrera, Ganoderma australe (Fr.) Pat., G. lucidum (Curtis) P. Karsten, Hexagonia apiaria (Pers.) Fr. Phellinus linteus (Berk. & Curt.) Teng. Trametes cingulata Berk. Hook., T. cotonea (Pat. & Har.) Ryv. T. gibbosa (Pers.) Fr. Schizophyllum commune Fr. were reported from Krishna district for the first time. F. nilgheriensis (Montagne) Bondartseva & S. Herrera is recorded for the first time from India. Even though being preliminary, our results point to the necessity of conservation and protection of recent fungal diversity but, in our opinion, not by making so-called “Red list of endangered species", which, due to the lack of information and very poor evidence on this group of organisms in the region under the consideration, are extremely unreliable and therefore disputable, but rather through the very short list of few not endangered species, conditionally called “White list of not endangered fungal species", if such species recently exist at all.