The oldest and most popular snake boat race in Kerala, and is closely connected to the Sree Krishna Temple at Ambalappuzha. The race is held on the Champakulam Lake on the moolam day of the Malayalam month Midhunam, the day of the installation of the deity at the Temple.

Legends say that Maharaja Devanarayana of Chempakasseri, as instructed by the royal priest, built a temple at Ambalappuzha. But just before the installation of the deity he was informed that the idol was not auspicious. The king was disturbed, but his minister suggested an inspired solution. To bring down the beautiful idol of Sree Krishna – presented to Arjuna by the Lord himself, from the Karikulam temple in Kurichi. The minister with a few others went to Kurichi, met the authorities there and returned with the idol.