.The Air filter was totally clogged,and after replacing it with ZEN MPFi air filter

Aneesh your mech had used excessive amount of Three Bond to seal the gasket areas, and had not wiped it clean after assembly...which is why you see the dark smear of the liquid Gasket all around..

Decided to clean the electricals today since the ZMA was ridden at extremely muddy surfaces for close to 150k for the last two days and was almost always exposed to constant rain. Found that HH offers a secret "emergency water storage" compartment right below the air filter intake duct (below the seat). Never knew this existed, it had collected close to 1/2 liter of rain water and rising. Going to drill a hole on the bottom of the fiber panel to drain this out sooner or later.

Price???? direct fit ?

Hm..Any problems with that? Guess everything is fine now,yesterday calculated mileage in city,Remember my afr is @ 4Turns. ran 18kms on reserve and after that filled petrol for 100rs,ie 1.45Ltrs petrol and now ran 30kms and petrol still remaining.

I think you are referring to the cup like structure in rubber ...put a small hole at the bottom ,because it will come in handy in carrying odd things later.
This is there to avoid the intake tube from inhaling dusty air rushing in from the front,or sides....and help keep the Air Filter cleaner..longer.

I got my worst FE when I bought the bike pre-owned and it was 26 in city..The Air filter was totally clogged,and after replacing it with ZEN MPFi air filter and also the spark plug, the worst is 30 kms ,and best 33 Kms in city.In, out of city rides on short tours doing 110 to 120 Kmph I get worst of 40 and best of 43 Kms.
Now i ride close to 70 to 80 kmph short burst in city,and finding the bike not so fast....Guess I am getting so used to the higher speeds, that even doing 110 seems to be slow...may be 140 will satisfy me ...temporarily .
If karizma is bumped up in Compression ratio it will give better mileage and power delivery..The basic design is for engine longevity and reliability.
Aneesh your mech had used excessive amount of Three Bond to seal the gasket areas, and had not wiped it clean after assembly...which is why you see the dark smear of the liquid Gasket all around..
Vishakh if you are getting worst of 35Kms per liter with that plug color.....common gentleman admit it...you have pedals attached in your ZMA..
You Plug shows you are running rich AFR...Check the Air Filter for clogging and change it, or if it is ok, correct your AFR..

.Hope you are not driving in " Uncle Mode ".

ZEN MPFi Air Filter is Rs.125/-...and nor direct fit, you may have to cut some slots to fit and patch up gap in some areas,since the Zen Air filter is square..You can see the Pink sponge on the right side of filter..

Yes, that is the structure. A small hole at the bottom would help make sure that the water drains while keeping the intake duct free of suspended dust/debris.

Has anyone ever noticed excessive handlebar wobbling? even at average speeds like 80k or so? There's something wrong with the rear tyre, i am able to visibly notice some sort of left-right sway of the rear tyre section while riding on another bike following my ZMA. I am not sure if this is due to tyre related issues (as suggested by SVC) or whether it is a bent wheel/alignment related issue. Any suggestions, pls?

what you said about the speed is true sir i have never felt scared when i do 110 kmph in moderate traffic always feels like the bike is perfectly in my control and its fun . But the feeling of safety always over rules the excitement factor ever since i bought the bike never got an adrenaline rush till now. I get more excitement when leaning an activa on a corner at 80 kmph as i feel i am gonna slide off the curve or lose control, but when i lean my Karizma at 110 kmph its fun always get a safe feeling when i ride my karizma

As you say my present AFR is rich does it cause any damage to the engine? if yes i will change it ASAP if it doesnt cause any damage planning to keep it like that as the bike is giving neat economy so i find no reason to deprive her of fuel and the present setting gives a very slight perfomance increase leaps off at traffic signals the moment they turn green

No problem...it just looks unclean with the smearing of the liquid gasket...If you mean 18+30=48 for 1.45 Liters then it is an acceptable mileage in city.Hope you are not driving in " Uncle Mode ".

uncle mode? whats that?

Not exceeding 4 k RPM, and reaching that too slowly...

Put the bike on Main stand and rotate the back wheel, and see the rim first...If you see the rim having a sway like the edge of rim coming closer to the chain guard,and then moving away,then you have a bent rim..if it stays true, then inspect the tire as you rotate the wheel..If the tread pattern sways left to right then the tire has issues...
Do the same to the front wheel also .

seems like i am the uncle here then