This is the ancient statue of Kaal Bhairav known as the care-taker of Nepal. King Pratap Malla in 1775 Nepal Sambat brought it from Raniban and established at his courtyard, Hanuman Dhoka. It is 16-feet stone idol, the only of this type, started breathing life after the famous and powerful tantriks of those days instill life in it. This statue acted, for a long time in history, as a judge also. Those who lied in front of it would die instantly, but afterward people were so frightened that they stopped me awakening through tantrik rituals. They just worshiped it nowadays.
Lord Bhairav is an fierce incarnation of Lord Shiva.The term Bhairava means "Terrific". He is often depicted with frowning, angry eyes and sharp, tiger's teeth and flaming hair, stark naked except for garlands of skulls and a coiled snake about his neck. In his four hands he carries a noose, trident, drum, and skull. He is often shown accompanied by a dog. Lord bhairav's worship is very useful to win over your enemies, success and all materialistic comforts. It is very easy to please lord Bhairav by doing normal worship daily.
Lord Bhairava is also known as Kshetrapalaka, the guardian of the temple. In honor of this, keys to the temple are ceremonially submitted to Lord Bhairava at temple closing time and are received from him at opening time. Lord Bhairava is also the guardian of travelers. The Siddhas advise us that before embarking on a journey, especially one that involves travel during the night, we should make a garland of cashew nuts and decorate Lord Bhairava with it. We should light oil lamp in His honor and request His protection during our travel.