A number of leading academicians, prominent industrialists and well-known financial institutions took the initiative of founding the school. The school was registered as a charitable society under the Tamil Nadu Act 27 (Societies Registration Act – Government of India) of 1975 on September 23, 1993.

The establishment of MSE was widely welcomed as an important initiative in the field of higher education and the MSE has received moral and material support from the government sector, corporate sector and a number of financial institutions across the country. The Government of Tamil Nadu generously provided land in a prime area in the city of Chennai on long term lease at a confessional rate. The Ministry of Finance, Government of India, sanctioned a capital grant of Rs. 3 crore for the establishment, construction and maintenance of MSE.

Contributions to our corpus have been made by several leading Indian companies and financial institutions. Some have made contributions to the general corpus while others have made contributions towards the construction of the library and the hostel.