Shrimath Madhavendra Thirtha became the seventh head of Shree Kashi Math Samsthan after the passing away of the earlier head of the Samsthan, Shrimath Devendra Thirtha in Bantwal. He had installed the principal idol in Shri Bindu Madhava Temple in the Math Samsthan premises in Banaras. He had travelled widely and when he was in Gurupur (in South Kanara) he installed Shri Varadaraja Venkataramana in the temple. The relevant Pratistha Shloka is as follows:

 Every day in the evening Deepa Namaskar Shlokas are recited in the temple. One of them refers to the installation of the idols of the Lords by the Swamiji:

 This temple was installed some time about 1742. H.H Shri Swamiji purchased some land in Banaras for Math expansion and some land in Walkeshwar, Bombay, more than two hundred years ago. It was he who founded Shree Kashi Math premises in Walkeshwar, where ultimately he entered Jeevanta Samadhi. His Vrindavan is in the Math premises in Bombay. A few stars shine in the spiritual firmament of India, the stars which have entered Samadhi while still alive. Sant Jnaneshwar at Alandi, Raghavendra Swamiji of Mantralaya and Madhavendra Thirtha of Shree Kashi Math Samsthan in Walkeshwar are perhaps the only three personages who had attained Jeevanta Samadhi in India. It is believed by the devotees that these great men are still living in the Samadhi and grant all the wishes of the devotees who seek refuge in them.

Earlier, H.H Shri Swamiji had initiated two vatus into sanyasa and named them Shrimath Jnaneendra Thirtha and Shrimath Yadavendra Thirtha III. Since both these Shishya-Swamijis passed away, while the Guru Swamiji was still alive (outside the Vrindavan), he initiated a third one into sanyasa and called him Shrimath Upendra (II) Thirtha.

After thus ensuring the continuation of the Guru Parampara of Shree Kashi Math Samsthan H.H Shri Swamiji entered the Samadhi, while still alive on Shravana Shuddha Panchami of Manmath Samvatsara, Sh. Sh. 1667 corresponding to Tuesday, 1st August 1775.

A miracle is associated with this Vrindavan in Walkeshwar. It is said that upto a few decades ago, the sound of the wooden padukas of H.H Shri Swamiji walking towards and from the lake lying in’ front of the Math buildings could be heard. It is said that Shrimath Sukrathindra Thirtha Swamiji had heard such sounds many a time. On one specific occasion, when Shrimath Sukrathindra Thirtha was camping in Walkeshwar, he was on the way to take bath early in the morning, and he saw some tapasvi (Shrimath Madhavendra Thirtha) walking towards the lake with wooden padukas on. He had heard the sound of the padukas. This was reported by him to his Shishya-Swami, who had told this to the author.

On another occassion, someone by name of Narasimha of Mulki (South Kanara) wanted to test the divine presence of H.H Shri Swamiji by the side of the Vrindavan in Walkeshwar. One night he slept on the raised portion in front of the Vrindavan and blocked the way which Shrimath Madhavendra Thirtha would follow to go to the lake. Next morning he was found to lie below the steps by the side of the Tulsi plant, without a single scratch on his body, as if someone had carefully lifted him while he was asleep and laid him on the ground by the side of the Tulsi plant and cleared the way, which was earlier blocked by him. From that day onwards he believed in the perpetual presence of H.H Shri Swamiji in the Vrindavan. He believed that H.H Shri Swamiji himself lifted him and laid him on the floor. It is the belief of the devotees that if they pray in front of the Vrindavan of H.H Shri Swamiji, he would definitely grant the wish. When Shrimath Sudhindra Thirtha Swamiji was camping in Walkeshwar Kashi Math, a few unemployed youths took refuge in H.H Shri Swamiji and described their plight. H.H Shri Swamiji suggested a solution – “Bow every day in front of the Vrindavan of Shrimath Madhavendra Thirtha Swamiji and perform any seva. Your wishes will be granted”. They did accordingly and they did get suitable employment within a short time.