Kubera was ruling the Kingdom of Sri Lanka, which was flourishing with all wealth. Ravana, his step brother, had no kingdom to rule and was envious of Kubera. Ravana’s mother added fuel to his jealousy and he decided to grab Sri Lanka from Kubera. To achieve this, he entered into penance and Brahma granted him boon that he will achieve his goal, at an appropriate time. Ravana having now attained powers from his penance entered into war with Kubera and seized his kingdom and also Kubera’s Flying Pan “Pushpaka Vimana”. Also proclaimed that any one helping Kubera will be decapitated.

Kubera, now in banishment, having lost everything, and not even be able to seek refuge, wanted to achieve his lost fame and status. He was advised by Brahama’s son “Pulasthya Rishi“ to lie dormant and do thapas at the Banks of the Thambrabharani River.

And this Arikesevanallur was the place where Kubera set his foot to do this thapas on consecrated the temple of Shiva (now known as Kubera Lingam), and accomplished his aspirations . Lord Shiva appeared before him along with his consort, and Both blessed him and  was made the kings of kings and made as Lord of Riches and treasures.
Such a sacred place is Arikesevanallur where the Ariyanathar blesses his devotees with whatever they desire.