Complex sentence: The airstrip, constructed by the Public Works Department in 1992, was taken over by the Maharashtra Industrial Development Corporation (MIDC) in August 1997 and later transferred to the Maharashtra Airport Development Company (MADC).
Split into simpler sentences: The airstrip, constructed by the Public Works Department in 1992, was taken over by the Maharashtra Industrial Development Corporation (MIDC) in August 1997. It is now being managed by the Maharashtra Airport Development Company (MADC).