The name
Kala Ghoda is a reference to the presence of a black stone statue of
King Edward VII (as the then Prince of Wales) mounted on a horse that was built by
Jewish businessman and philanthropist
Albert Abdullah David Sassoon, although this statue was removed from the precinct in 1965 and subsequently placed inside the
Byculla Zoo. A local legend stated that the statues of King Edward and the one of
Shivaji on a horse at the
Gateway of India came to life after midnight and battled it out on the streets. In 2017, the 'Kala Ghoda' returned to the area with a new statue of a similar looking horse without a rider, being commissioned by the Kala Ghoda Association. The statue, titled 'Spirit of Kala Ghoda' was designed by architect Alfaz Miller and sculpted by Shreehari Bhosle. Prior to the founding of the
Bombay Stock Exchange, merchants often traded shares at the junction of Rampart row and Meadow street. ==Landmarks==