Step 1: List every possible finishing order of the three runners.
With three runners, Snehal, S, Tanmay, T, and Waman, W, there are 6 possible orders for first, second and third place: STW, SWT, TSW, TWS, WST, WTS.
Step 2: Score each order against Babloo's two claims.
Babloo's claims are Tanmay won, true only for orders starting with T, and Waman was second, true only when W is in the middle position. For each order, count how many of these two claims are true: STW, neither true, 0. SWT, only Waman second is true, 1. TSW, only Tanmay won is true, 1. TWS, both true, 2. WST, neither true, 0. WTS, neither true, 0.
Step 3: Score each order against Bunty's two claims and keep only orders scoring exactly 1 on both counts.
Bunty's claims are Snehal won, true only for orders starting with S, and Tanmay came second, true only when T is in the middle position.
From Step 2, only SWT and TSW scored exactly 1 for Babloo, so only these two orders can possibly work, every other order is already eliminated.
Check SWT against Bunty: Snehal won is true, S is first, Tanmay came second is false, W is second not T, so this scores 1 for Bunty too. Check TSW against Bunty: Snehal won is false, T is first not S, Tanmay came second is false, S is second not T, so this scores 0 for Bunty, and is rejected.
Step 4: Confirm the surviving order.
Only SWT, Snehal first, Waman second, Tanmay third, gives exactly one true and one false statement for both Babloo and Bunty at the same time.
Final Answer:
The race finished Snehal first, Waman second, Tanmay third.
\[ \boxed{\text{Snehal, Waman, Tanmay}} \]