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The College is named after Muluk Sherair Irani, a prominent businessman of Pune and post graduate from Deccan College, who taught at Mayo College, Rajasthan.
Shri Homi Irani, son of Muluk Sherair Irani, a trusted lieutenant of Shri Mahadevappa Rampure was kind enough to donate substantial amount in memory of his father Muluk Sherair Irani.