It was noticed in the fourth and fifth decades of 19th Century that the community was not progressing and prospering in educational, social and commercial fields. Therefore to find out a permanent solution to these setbacks as ordained by Almighty Lord Venkataramana, an Ashtamangala Prashna was convened on 15–07–1959 under the leadership of the Trustees, Late Sri Sheshagiri Shet, Late Sri Ram Gund Nayak, Late Sri Narayan Valke and other elders of the Vaishya community.
It was found in the Prashna that the community needs a Guru to guide the community. It was also revealed that the Gurumutt already exists at Haldipur in the North Kanara District and the same is without a Guru. As a result of the intiative and perseverence of Sri B. Vitobh Nagvekar a search for Guru Vatu was started and Kumar Upesh Babu of Cochin was found suitable to become our Guru as per his horoscope. Subsequently, the Mahaswamiji of Daksinamnaya Shree Sharada Peetha His Holiness Shree Shree Shree Bharathi Theertha Mahaswamiji was requested to impart Vedic and Religious (Dharmik) education to the Vatu and His Holiness graciously consented to do the same. After 11 years of rigorous and continuous studies of various scriptures of Hindu Dharma with the blessings of His Holiness Shree Shree Shree Bharathi Theertha Mahaswamiji the Pattabhisheka ceremony was celebrated at Haldipur Shree Krishnashram Mutt on 12th March 2004 and our Guru was anointed with the pontifical name Shree Shree Shree Vamanashrama Swamiji.