- Prince Dhondu Pant was born to the King Raghunath who was the chief of Mangalved (near Pandharpur) through the blessings of a Madhwa saint.
- Dhondu Pant, at very young age excelled in all the skills needed for a prince. Soon Upanayanam and Marriage was done early in his boyhood. Since it was boyhood, Dhondu pant and his wife were staying separately with their parents.
- Dhondu Pant who has excelled in many skills was an outstanding horse rider too. Once when he was riding the horse, he felt very thirsty. He went into the Bhima river and without getting down from the horse he started drinking the water just by bending.
- Just then Sri Akshobhya theertha (the direct disciple of Sri Madhwa) who was on the opposite bank asked him “Were you an animal in your previous birth?” . Just on hearing these words Dhondu Pant recollected all the happenings of his earlier birth. He at once approached Sri Akshobhya theertha and expressed his felling and asked him to initiate into sanyashrama immediately as he was not willing to waste anymore time with his wife and family.
- Sri Akshobhya theertha then initiated him and gave him the holy name Sri Jaya theertha.