The Padmashri and Padma Vibhushan awardee cartoonist was known for his trademark stylish strokes which told detailed colourful stories with shades of humour, largely based on life in Mumbai and Goa.
The commemorative doodle was created by another comic artist Aaron Renier known for portraying large crowds.
It shows a rainstorm scene in a crowded Mumbai, with the hazy hint of a prominent landmark building and people of various communities that spice up Mumbai in their traditional attire, running around.
"I approached Mario's work by pretending I was drawing with him. I chose his most popular style, very flat with criss-crossing interactions. In this homage to Miranda, we see a rich litany of people, each unique in their perspective," Renier was quoted as saying in an official statement.
The doodle depicts people struggling with their umbrellas, newspapers, a spontaneous lovers hug, the typical dog chasing a stray cat and dragging his master on the leash.
On a ground floor is someone quietly observing the goings -on outside, on the first floor a woman absently empties the bucket of water onto the roads after cleaning her home, while on the left side appears an image resembling Miranda himself struggling with his next creation on the canvas.
He was awarded the Padma Shri in 1988, the Padma Bhushan in 2002 and was conferred the Padma Vibhushan posthumously in 2012.