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Indradhanushya is an Inter-University Youth festival of Maharashtra. As 2006-07 was the sesqui-centennial year of the University of Mumbai, the honour of hosting Indradhanushya'06 was bestowed upon it. And as 2006-07 was the Centennial year of Chikitsak Samuha, Patkar-Varde College was given the responsibility of hosting Indradhanushya '06.

Indradhanushya'06 was organized from 4th to 7th November, 2006, in the presence of Honourable Governor of Maharashtra, His-Excellency Shri. S. M. Krishna. Nineteen Universities, 662 participants, 200 officials and about 5000 students were a part of Indradhanushya '06.

Various competitions held over four days and under 5 categories - Music, Dance, Theatre, Literary and Fine Arts - saw the participants competing for glory. Three thousand students from various Colleges affiliated to the University of Mumbai participated in a rally in Goregaon, organised by the NSS unit of the University of Mumbai. This rally was organised on 5th November 2007. A Cultural Procession and a Mini-marathon were also organised on the same day.

The main sponsor was Intelenet who contributed a sum of Rs. 20,00,000/-. Hence, this cultural event was called "Intelenet Indradhanushya'06". MDACS, the Mumbai District Aids Control Society also contributed 800 sleeping bags and 1000 shirts for the participants.

Dr. Vijay Khole Hon. Vice-Chancellor, University of Mumbai inaugurated the function. Also present were noted film actor Shri. Shivaji Satam, Chairperson - Organising Committee Indradhanushya Shri. Vinayak Dalvie, Pro Vice-Chancellor, University of Mumbai Dr. A. D. Sawant, President Chikitsak Samuha Shri. Kishore Rangnekar, Shri. Sandeep Agarwal of Intelenet, Cultural Director A.I.U. Shri. Sampson David, Director, MDACS Dr. Nirupa Borges, and Principal - Patkar-Varde College Dr. Uday Mashelkar. Directors of Students' Welfare (DSW's) of nineteen Universities were felicitated.

At the Valedictory function, the Chief Guests were His Excellency Governor of Maharashtra Shri. S. M. Krishna, Hon. Chief Minister Shri. Vilasrao Deshmukh, Member of Planning Commission Dr. Bhalchandra Mungekar, Minister for Animal Husbandry and Protocol Shri. Anees Ahmed, Vice Chancellor, University of Mumbai Dr. Vijay Khole and Pro Vice-Chancellor, University of Mumbai Dr. A. D. Sawant.

Shri. Sudesh Bhosle, Ms. Vaishali Samant, Shri. Sairam Iyer and Shri Navin Prabhakar performed at the Valedictory function. There were also performances by Uday Deshpande and his group (Samarth Vyayam Mandal) and students of Blind School and also Folk dances by Lok-Kala Academy. The programme was compered by Shri. Adesh Bandekar and his group. The event was followed by excellent fire works by Moranis.

In addition to three prizes in each event, the following awards were given on the basis of overall performance:
1) Golden Girl Award
2) Golden Boy Award

The Runner-up Trophy was won by SNDT Women's University. The Overall Championship Trophy was won by the University of Mumbai.

This mega-event was extensively covered by local newspapers such as Loksatta, Lokmat, and Maharashtra Times. The T.V. channel Sahara Samay covered the event live and parts of it were also telecast on Doordarshan. Wide publicity was also given on All India Radio and Radio Mirchi.