Padmanabha, a devotee of Vishnu, belonged to a Brahmin family of Chakrapushkarini. Though poor, he was kind, honest, and just. He only wished to the Almighty once. Yet he knew that God did not appear before all. So Padmanabha absorbed himself in prayers. When his prayers reached their peak Vishnu appeared and blessed him with the boon of remaining alive through many ages. However, one day, a demon attacked him. Fearing for his life he began taking the lord's name. Vishnu killed the demon with his Sudarshan Chakra, the divine wheel.

This demon was the demi-god Sundar, whom Vasistha had cursed to change into a demon. He was to be freed only when Vishnu's chakra severed his head. Saluting the chakra for saving him Padmanabha prayed that it would protect mankind. The chakra entered the village of Pushkarini, which hence came to be known as Chakrapushkarini.