The idol of Sri Adhishvar Bhagwan here is famous by the name of Sri Manikyaswami and is very ancient. There is a popular legend that Sri Bharat Chakravarti, son of Sri Adhinath Prabhu had got ceremonially installed idols of all 24 Tirthankaras on Mount Ashtapad and one of the idols was made of a blue precious stone which was set in his own ring and that is the same idol. It is said that King Ravana had obtained this idol from divine sources as a result of his practicing penance to please them and had gifted the idol to his queen Mandodari. For several years the idol remained in Sri Lanka and when the latter was destroyed, the Guardian Deity of the Jain order kept it safe under the sea.While practicing austerities to please the Guardian Deity, the local king name Shankar received this idol in Vikram year 680 which was installed here with proper consecration ceremonies after building the temple.In an inscription dated Vikram year 1333 found here, there is a reference to this shrine as well as to this idol of Sri Manikyaswami. There is a further reference in the inscription dated Vikram Year 1481 about renovations carried out on this temple by Sri Jain Swetamber Sangh in the presence of the head of Tapa Gachchha Bhattarak Sri Ratnasinhsuriji. In the inscription dated Vikram year 1665 the name of Acharya Sri Vijaysensurishvarji has been referred to. A reference is available about the consecration after renovations were carried out by the Jain householder families of Hyderabad in the presence of Pandit Sri Kesarkushalgani, on Chaitra Sukla 10 in Vikram year 1767. At this time all was successfully completed because of the cooperation received from Subedar Mohamad Yusuf Khan of king Bahadur Shah, son of Badshah Aurangzeb the then ruler of Delhi. The large compound of land was also then adequately walled.The significance of the shrine is because of its association as stated earlier, with Bharat Chakravarty, Mount Ashtapad, king Ravana and the receipt of the idol finally by king Shankar of south India in Vikram year 680. The sight of such an idol worshipped on Mount Ashtapad and having surfaced after thousands of years is impossible anywhere else. Besides this, one can also have a sight here of another incomparable and ancient idol, that is of Sri Bhagwan Mahavir in a mood of benign smile made out of precious Phiroji Stone in green color.Every year a festival is held here betweet Chaitra Sukla 13 and Poornima when thousands of devotees gather to offer their prayers. The Guardian Deity here appears to be working miracles and very often sweet and enchanting sound of ringing bells and anklets is heard in the temple.The art displayed in idols here is unique. There is a total of 15 ancient idols and each of them has something special to convey. The idols of Sri Manikyaswami of blue stone and of Sri Bhagwan Mahavir of green Phiroji stone are beyond description as no adequate words can convey their beauty and grandeur. It is no exaggeration to assert that such an idol in Phiroji stone in such a shape and color is the only one of its king in all images and idols of the entire world.There is no other temple nearby in the area. The Sikhar of this temple is also of a special style. Even in ancient relics here, some creations of exceptional arts are available.