Goddess Brahma Kamandalu Ganga flows southwards (Dakṣiṇavāhinī) near the Kuṁḍa at Morgaon. The austerities performed on the banks of the Dakṣiṇavāhinī river are considered as sacred. The river becomes more sacred as it passes through the pond called Gaṇeśa Kuṁḍa. The story of its creation is also very amazing.

Paṁceswara (Brahma, Viṣṇu, Maheśa, Adimaya, Sūrya) for the gratitude of boon received, decided to install Śrī Mayureśvara, the first Gaṇeśa idol in universe at the place where facility of water was not available. Finally they requested Gaṇeśa. Upon their request Śrī Gaṇeśa digged a ground through his Aṁkuśa i.e. a curb or a goad weapon. A water spring emerged due to Aṁkuśa thus named Aṁkuśa Tīrtha and pond formed out of this Tīrtha is called Śrī Gaṇeśa Kuṁḍa.

Moraya Gosavi blessed with an idol in his hand of Mayureśvara in the form of Tāṁdalā (a rude stone smeared with red lead and used as an idol) while giving Arghya (oblation of water) to Sun in Karha river and voice from the skies echoed, “Dear Moraya, I am pleased with your devotion. I give you a blessing that in future people will cheer your name immediately after my name.” Since then people extol the name Maṁgalamūrtī Moraya. This incident happened in the year 1489 AD. This idol is enshrined at Śrī Maṁgalamūrtī Wada in Chinchwad.

After the divine creation of Aṁkuśa Tīrtha and Śrī Gaṇeśa Kuṁḍa with the grace of Śrī Gaṇeśa, Paṁceswaras (Brahma, Viṣṇu, Maheśa, Adimaya, Sūrya) took a bath there. They installed an idol of Śrī Mayureśvara. After installing the first Gaṇeśa idol in universe, Paṁceswaras again came to Śrī Gaṇeśa Kuṁḍa to install an idol of Gaṇeśa as mark of gratitude for the help given by this Tīrtha at the beginning of their divine work of consecration of idol. They named that idol as a Gaṇādhīśa with the feeling that we the Paṁceswaras are servants of Moraya and he is our Master.

Aṁkuśa Tīrtha is the king of all Tīrthas as created by the grace of Lord Gaṇeśa. With such reference, the Gaṇeśa idol installed here was later called as Tīrtharaja.