A very Mumbai way of saying 'are you crazy or something?' Generally used when someone suggests something stupid or ridiculous.
Shyam : Hey Shankar, you owe me 500 Rupees. How do you plan to pay it?

Shankar : I bought this lottery ticket and I am going to win. So I will pay you as soon as I win.

Shyam : You think I am mad-o-wat to believe that?
by mad-o-wat January 24, 2010