Many great sages gathered at the bank of the river Sarasvati to participate in Maha Yagya. All the great saints and sages could not decide that out of the trinity of gods, Vishnu, Brahma, and Shiva who was pre-eminent and to whom they should offer the Pradhanta (Master) of that Yagya.
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With the consent of all the great saints presents there,
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it was decided that Bhrigu would test and decide who was pre-eminent. Upon being entrusted with the task, Maharishi Bhrigu decided to test each of the Trimurti.
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He first visited Brahma, who was reciting the Vedas and spending time with his consort, Saraswati, and, therefore, ignored the arrival of Bhrigu. Bhrigu got angry and started to insult his father. Brahma also got angry and, in fear,
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Bhrigu left for Kailash (home of Shiva). Lord Shiva meanwhile was also talking with Parvati. Shiva was infuriated, but was calmed by his consort, Parvati. The sage then ran to Vaikuntha.
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Now, the only remaining deva was Vishnu, and, to make things even worse, Vishnu wasn't able to see Bhrigu, because he was asleep on his Sheshanaga. Bhrigu kicked Vishnu on the chest to wake him up, as he was enraged by the fact that Vishnu was constantly asleep on the Shesha.
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Vishnu woke up, greeted Bhrigu, and starting massaging his feet, asking him if he had hurt his feet in kicking his chest.
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In the process, Vishnu destroyed the third eye of Bhrigu that was on his feet, symbolizing his ignorance and ego, and,
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as soon as it was destroyed, he grew aware of his egotistical outbursts
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with extreme pain. He begged forgiveness of Vishnu,
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who readily forgave him ,He then declared Vishnu the greatest among the Trimurti, the triumvirate of gods. Vishnu's consort Lakshmi grew angry at Vishnu because the chest was considered as Lakshmi's place (vakshasthala) and fled Vishnu to be born on earth as Bhargavi daughter of Bhrigu.