Maharshi Parasurama consecrated the idol of Mahavishnu in such a concept that the Lord is embracing Goddess Mahalakshmi. After the consecration the Maharshi entrusted the temple responsibilities to some local Brahmins. These Brahmins became prosperous of wealth by the blessings of Goddess Mahalakshmi. But later they became indifferent to the activities of the temple which brought about their downfall. The temple also lost its wealth and glory in the course of time.
