The MCIEL was formed in 1958 and registered initially as a house-building society under the Bombay Cooperative Act'1925. However, character of the Society was changed to Industrial in 1962 and model bye-laws meant for Cooperative Industrial Societies were adopted and got registered. The Estate was handed over about 106.04 acres of industrial land on the north of Rohtak Road by Delhi Administration for construction of infrastructure like roads, sewer, storm water drains and carving industrial plots, as per approved lay-out plan vide an Agreement dt. 12-07-1966.

Initially the response for membership was not encouraging but as the development work progressed and the infrastructure was gradually getting visible, more and more entrepreneurs became interested in becoming members of the Society. First draw of lots amongst the members for allotment of industrial plots was conducted by Hon'ble Union Minister, Sh. K.K. Shah on date.