Checked up with my colleagues staying in colaba.
The churchgate station was where Badhwar park is there now. Since this place was close to Afghan church, this station was called churchgate.
Colaba station was close to churchgate (that time locos had 3 bogies/coaches unlike 9/12 now) towards High court. Where oval ground is therepresently, there was yard. Some photographs of old churchgate station are displayed at the present churchgate station,. Old churchgate was moved to present churchgate location in 1956 when the land in colaba side was to be reclamed.