AJ Institute of Engineering & Technology is promoted by Laxmi Memorial Education TrustR.) which was registered in the year 1991 in the memory of Late Laxmi Shetty, motherof Dr. A. J. Shetty, who is the President and Managing Director of the Trust.

Being a pioneer industrialist of South Kanara, Dr. A. J. Shetty started the renowned Star Hotel Moti Mahal, A.J, Hospital & Research Centre (Tertiary Care Super Speciality Hospital), A.J. Institute Of Medical Science, A.J. Institute Of Dental Sciences, A.J. Institute Of Management, A. J. Institute Of Paramedical Sciences, Laxmi Memorial College Of Nursing, Laxmi Memorial Institute Of Nursing, Laxmi Memorial College Of Physiotherapy, Moti Mahal College Of Hotel Management (Attached With 3 Star Training Hotel Moti Mahal), Laxmi Memorial College Of Hotel Management, A. J. Institute Of Hospital Management Laxmi Institute Of Paramedical Sciences