Jagannath Shankarsheth, Sir George Birdwood and Dr Bhau Daji were instrumental in some of the major reconstruction efforts of the city, beginning 1857. The three gradually changed a town made up of a close network of streets into a spacious and airy city, adorned with fine avenues and splendid buildings. He became the first Indian to be nominated to the Legislative Council of Mumbai under the "Act of 1861", and became a member of the Bombay Board of Education. He also was the first Indian member of the Asiatic Society of Mumbai, and is known to have endowed a school and donated land in Grant Road for a theater. His influence was used by Sir John Malcolm to induce the Hindus to acquiesce in the suppression of suttee or widow-burning, and his efforts also paid off after the Hindu community was granted a cremation ground at Sonapur. He is known to have donated generously to Hindu temples. During the First War of Independence of 1857, the British suspected his involvement, but acquitted him due to lack of evidence. He died in Mumbai on 31 July 1865. A year after his death a marble statue was erected at the Asiatic Society of Mumbai. Erstwhile Girgaon Road and chowk (Nana Chowk) at Grant Road are named after him in South Mumbai.