The College is established by Devi Sharvani Education Society, registered under the Societies Registration Act 1860. It was founded by Late Mr. V. M. Salgaocar, an industrialist and philanthropist of Goa, for the people of Goa aspiring to obtain a Law Degree. The College earlier known as Mahadevrao Salgaocar College of Law was started in the year 1973 with the generous donation from its founder Late Mr. V. M. Salgaocar who named the college in the memory of his father Late Mr. Mahadevrao Salgaocar. In the year 1997, as per the decision of the Governing Council, the name of the College was changed to V.M. Salgaocar College of Law.