This enormous banyan tree on the banks of the Shipra, has been vested with religious sanctity as the Akashyavat in Prayag and Gaya, Vanshivat of Vrindavan and the Panchavata of Nasik. Thousands of pilgrims take a dip in the Shipra from the bathing ghat built here. According to one tradition, Parvati is believed to have performed her penance here. It used to be a place of worship for the followers of Natha sect.
One legend has it that some Mughal rulers had cut off the Banyan tree and covered the site with iron sheets to prevent its roots from growing. But the tree pierced the iron sheets and grew and flourished. The little village of Bhairogarh near Siddhavat is famous for its tie and dye painting for centuries. In ancient times when trade with other countries flourished, exquisitely printed cloth from Bhairogarh used to find its way to Rome and China.