Shree Betal or Shree Vetal is the mighty chief of Lord Mahadev’s Bhutaganas. The Protector of his worshipers from all evil. Shree Betal, Shree Khanderai, with a sword in one hand, and a shield in another; Rudramala across his body and a crown of cobras on his head. Known as Agio Betal, the Agio explained as being fire tongued (Agni-jivha in the Kashikhand of Skanda Purana) or as being forbidden to have a roof over his head. The Deity known as Shree Vetal or Shree Betal has also other different names such as Khanderao, Khanderaya, Khandoba, Mhalsakant, Malhari, Martand, etc. 

The historians say that the word Khand is the same as Skand which means Kartikswami. According to this theory, it is concluded that Khandoba is an incarnation of Kartikswami. This theory has been confirmed by eminent historian like Dr. Bhandarkar and Shri Rajwada. Khandoba is also considered as the army chief of Shree Shankara. In regions such as Gomantak, Konkan and Karnataka. “Khandoba” is also known as “Vetal” or “Betal” and is worshipped as one who liberates his devotees from different calamities and protects them from their enemies, By incorporating such a brave Deity in the ‘Shree Ramanath Panchayatan’ the Mahajans catered for the need of devotees who are in distress.