Laxminarayan Institute of Technology which was founded in the year of 1942 owes its existence to the munificent donation of the Late Rao Bahadur D. Laxminarayan of Kamptee who by sheer hard work & in spite of many difficulties, not only amassed a considerable fortune, but became a prominent figure in the public affairs of the Province. During his life time, it must have occurred to him that the backwardness of the Province was in a large measure due to the lack of higher training & research in Technology. His work brought him into contact with problems which required the aid of Technologists for their solution & in order that this want should not stand in the way of progress, he bequeathed the main part of his property, then estimated at Rs. 35, 20,540/- to the Nagpur University by his Will dated the 3rd May 1930, for the purpose of "Teaching of Applied Science & Chemistry". For this a Committee was appointed by Nagpur University on 6th February 1932, known as the "Bequest Scheme Committee", which consisted of eminent men of Science, Industry & Public Affairs drawn from all over India. This committee with Sir M.B. Niyogi, Vice - Chancellor as Chairman recommended to establish an Institute of Technology for teaching Industrial Chemistry with particular emphasis on the application of Science to the industrial development of the province, then known as Central Provinces & Berar.