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The institute was named after Sahu Shreyans Prasad Jain of the Sahu Jain family, who financed the institution in its early years.
It is also linked to some famous landmarks of Andheri i.e. Andheri Recreation Club, Andheri Sports Complex – where most national level sports tournaments are held, Garden Court restaurant, Sony Mony Electronics, Sardar Patel College of Engineering (SPCE) – one of the top ranked engineering colleges, S.P. Jain Institute of Management and Research, Bhavan's College.