Maha Sharabheshwara Swamy is an avatara of Shiva and in this form he calmed the furious Narasimha (avatara of Vishnu). In order to prevent the destruction of the world from the furious nature of Narasimha, Lord Shiva came in the form of Sharabheshwara who was more furious than Narasimha and he calmed Narasimha. Later Sri Pratyangiraa Devi came to calm Sharabheshwara, there by preventing the destruction of the world.
Every Sunday, abhisheka is performed to Sri Sharabheshwara Swamy during Raahukaala (4:30pm to 6pm). If there is ashtami or dashami or chaturdashi on Sundays, abhisheka to Pratyangiraa Devi is performed first and later to Sharabheshwara.