In the ‘lthihyamala’ of kottarathil sankunni there is a detailed description of this temple-this temple having more than one thousand years of history, there are three Brahmin families, kizhupuram,Karunad and kaimukku,asits traditional care takers. From among these illams a respectful Brahmin from the kizhupurathillam disappointed by not getting a male child, took up a journey to Ganges to take holy bath. On the way reaching mookambika he stayed there for a few days praying to the deity there. One day the devi appeared before him and advised him to go back to his native place. She told him that a nampoothiri lady of Karunattillam is now pregnant and that she will deliver two children. One of the children be adopted by him as his own and bring him up. As directed by the devi the next day the devotee took bath, worshipped the devi and returned to his house. In his palm leaf umbrella there was Devi’s blessing and power. When he reached Panachikad,the palm umbrella become stiff without any movement. then holy Godman appeared before him and pronounced that there is devi’s power and blessings in the umbrella. He advised the Brahmin to do poojas and the power of saraswathy be installed in a temple at Panachikadu. An idol which was lying deserted there was seen. The Brahmin was told to incarnate the power of the devi in this old idol which was worshipped by Godman with supernatural power long time ago. Since such Godmen with supernatural powers are not available now an alternate idol was installed in Panachikad. Even today in the temple of the care takers traditional rituals and poojas are performed as of then. The order in which Pooja performed to Mahavishnu, sarawathy, Ganapathy, Siva, Sastha,Yakshii, and Nagaraja. Like the Ganges which touches the feet of Vishnu it is form the feet of Vishnu that the holy water flows to the shrine of Saraswathyi.