The founder members of the college are Late Dr. R. V. Phansalkar, Dr. V. S. Kelkar, Dr. V. B. Bhide, Vyakranbhusan Nrusinhacharya Gajendragadkar, Vd. Tryambakshastri N. Joshi, Shri S. V. Joshi & Dr. S. R. GokhaleFounded as “Maharashtriya Aryangla Vaidyak Shala.” An d now a day it is known as Seth Chandanmal Mutha Aryangla Vaidyak Mahavidyalaya. Ayurved Prasarak Mandali was established at the same time and it took over the charge of this college. It is the first institute / college in India that opened for integrated education of Ayurveda & Allopathy.The institution is situated outside the city but adjacent to the city area on old Satara –Pune highway. A temple Ram-Dhyana Mandir is opposite to the college building & the college building is having their own herbal garden covering the three sides of it. It provides green canvas for the college building .It is a two storey building & is a fine example of Architecture with stony elevations. At the entrance hall there is a beautiful statue of lord Dhanvantari.The students use to start their daily college class work by praying lord Dhanvantari.
Hostel Facilities Available: A Separate Ladies hostel having accommodation for 60 students & a Gents hostel for 30 students is made available in the premises of hospital. It is been safe as the hospital premises is protected with a wall compound having a separate Entrance & Exit Gate guarded by the watchman.