Parama shiva is one of the trinity of Hindu pantheons who is in charge of destruction. He married Sathi , the daughter of Daksha. Daksha and Paramashiva were not getting on well and consequently he did not invite Paramashiva for one of the great fire sacrifices that he conducted. However Sathi went to attend the function in spite of Paramashiva’s protest. Daksha insulted her husband and she jumped in to the fire and ended her life. Consequently at the behest Of Paramashiva Daksha was killed and later given life with a goat’s head. However this incident upset Paramashiva and he entered into deep meditation.Sathi took birth as the daughter of the mountain(Parvathy) Himalayas and started doing penance on Shiva for getting him as her husband. The devas faced a very great enemy in Sura Padma who had a boon that he could be killed only by a son of Shiva and Parvathy. So to wake Shiva from his deep meditation the devas deputed Manmatha , the God of love who shot his flower arrows at Paramashiva. Paramashiva woke up and opened his third eye and burnt the God of love into ashes. The Devas and Rathi Devi the wife of Manmatha requested Paramashiva to give life to Manmatha. Heeding for their request Paramashiva stared at the ashes of Manmatha.From the ashes came Bhandasura Who made all the world as impotent and ruled from the city called Shonitha pura.He started troubling the devas.The devas then sought the advice of Sage Narada who advised them to conduct a fire sacrifice. From the fire rose Sri Lalitha Tripura Sundari.
In the Sri Chakra are the following decorations viz., The square called Trilokya mohanam(most beautiful in the three worlds), The sixteen petalled lotus called Sarvasa paripoorakam(fulfiller of all desires), the eight petalled lotus called Sarvasamksopanam(the all cleanser), the sixteen corner figure called Sarva sowbagyam(all luck),the external ten cornered figure called Sarvartha sadhakam (giver of all assets), the internal ten cornered figure called Sarva raksha karam(All protector), the eight cornered figure called Sarva roka haram(cure of all diseases), triangle called Sarva siddhi pradam(giver of all powers) and the dot called Sarvananda mayam(all pleasures).
This is the story is contained in the first 84 names of the first 34 slokas of Lalitha Sahasra nama which all together contains one thousand names.