Its one of the charms of Colaba, a very popular restaurant, was recently in news after terrorists attacked it in the November 2008 attacks. The fact that its started by an Iranian is very obvious when you look at the paintings, images surrounding the walls. The shot captured above is the large board above the bar, and is just perhaps 1/3rd of the actual width.
If mondegar is my favorite place in Colaba, Leopold comes close and scores a second place. There is a section above on the first floor too, which unfortunately I have never visited. The crowd here is much more quiter then the halla bulla, or perhaps it seems so because of the better spacing between the tables.
I think one of the reasons why I like coming to this place (perhaps like many others), is because its mentioned so many times in Shantaram.