In 1974, foundation stone for the college was laid by eminent personalities like Padma Shri Late Shri. G. D. Madgulkar, the then Adhunik Valmiki of Current era due to his composition of Geet Ramayan and Late Shri. Ajit Wadekar, the then captain of Indian Cricket team. The Mandal is and perennially will remain indebted to the support of many eminent personalities and industrialists such as Late Shri. Gajananrao Pendharkar, the then chairman of Vicco Laboratories who munificently gave a founding donation for the establishment of K. V. Pendharkar College. The College has been named after his father Late Shri. Keshav Vishnu Pendharkar as a gratitude for unstinting support received from Late Shri Gajananrao Pendharkar.