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The presiding deity is Shiva. He is called Sri Akshayapureeswarar. His consort is known as Goddess Sri Abivruddha Nayaki.His place is closely associated with Planet Saturn. His son, Yama the God of Death hit Him on His leg and was lamed. Saturn began a pilgrimage to all Shiva temples for remedy. When He came here, he fell down struck by the roots of Vila tree. It was a Saturday (Sani’s own day) combined with Poosam star and Akshaya Thrithiya indicating prosperity. As He fell, the spring Poosa Gnanavavi, hidden till then, rose with force and took Him up. Lord Akshaya Pureeswara granted darshan to Him and blessed Sani with wedding. His leg became straight.
Combined with the names of Vila tree and the Gnanavari spring, the place came to be known as Vilankulam. Kulam-spring. A Siddha, Poosa Marungar by name, living in Saneeswara Loka (world), used to spill the Sanivari theertha on the springs of Shiva temples. Saneeswara has importance in such temples. The Siddha has a rare power of visiting the world of Sun and the world of the Pithrus (departed ancestors) and is the Guru of the crows. It is believed that the Siddha is visiting the temple for worship daily.
Besides those belonging to Poosam star praying for removal of planetary afflictions, those handicapped and those suffering from leg pain and those facing obstacles in wedding proposals throng the temple for remedy. If Poosam Nakshatra people visit this temple during Saturdays along with poosam star day and Akshaya Tritiya and offering Abhishekam to Sani Bhagawan all their sorrows will disperse in air.