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In 1760, the church was rebuilt and the statue was substituted with a statue of Our Lady of Navigators in the St Andrew's Church nearby. Legend has it that a [[Koli Christian]] fisherman dreamt of the statue floating in the sea, and as prophesied in the dream the statue was indeed found the next day, floating in the sea. A Jesuit Annual Letter dated to 1669 and published in the book ''St Andrew's Church, Bandra'' (1616–1966) supports this claim. The Koli Fishermen call the statue as Mot Mauli, literally meaning the Pearl Mother or the Mother of the Mount, ''Mot'' could be a corruption of the [[Indo-Portuguese]] word ''monte'' for "mount"; ''Maoli'' is a [[Marathi-Konkani]] word for "mother". However, the previous statue is now restored, is enshrined in a [[place of honor|place of honour]] in the basilica. Both Hindu and Koli Christians ([[Bombay East Indians]]) visit this shrine often making the place a prominent feature of [[religious pluralism|intercommunal harmony]] and [[interfaith]] dialogue in Bombay.<ref>[http://www.asianews.it/news-en/Hindu-nationalist-BJP-leader-LK-Advani-prays-at-Marian-shrine-22615.html A Hindu nationalist leader at the Marian Shrine] ''[[AsiaNews]]'', 12 September 2011.</ref>
[[Pope Pius XII]] issued the following decrees for the shrine:
* Issued a Pontifical decree raising the shrine to the status of Minor Basilica on 4 October 1954.
* Issued a decree ''In Latissimis Indiæ Orientalis'' on 16 November 1954, which appointed Cardinal [[Valerian Gracias]] as legate to the Marian congress at this exact shrine.
* Granted a decree of [[pontifical coronation]] to its venerated Marian image on 21 October 1954, which was signed and notarised by Cardinal [[Giovanni Battista Montini]] of the [[Sacred Congregation of Rites]]. The former [[Archbishop of Bombay]], Cardinal [[Valerian Gracias]] executed the rite of coronation on 5 December 1954.
* Congratulatory Apostolic Letter ''Christifidelibus ex Indiæ'' for the Indian faithful during a Marian Congress in Bandra signed on 8 December 1954.
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