That looks like it worked pretty well, at least from the standpoint of, you know, punishing drivers for honking so much. As far as how it’s helped traffic, maybe not so much. A travel vlogger based in Mumbai went looking for the Punishing Signal, and found this:

If you watch that to about 3:48, you’ll see that Mumbai police told him that they had to cancel the project because of high traffic in the area, which I guess isn’t really too surprising. It may reappear, but at the moment, it looks like loud honkers will continue to get away with it.

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Oh, and while reading about this I also learned that the name for people who live in Mumbai is “Mumbaikars.” So, now you know, too.