Shrimad Bhagavatham is a sacred text rendered by Sage Veda Vyasa. Despite the fact that Veda Vyasa passed on the Vedas, the Puranas and the Mahabharatha to his disciples he felt a void in his heart. To fill this void, he was initiated by sage Narada into doing a Bhakthi Grantha (devotional scripture) on lord Krishna, namely, Shrimad Bhagavatham. Though Sage Veda Vyasa passed on theVedas, the Puranas and the Mahabharatha to his disciples he kept Shrimad Bhagavatham, the greatest treasure, to himself, as he felt that the recipient had to be of the highest order.
And so it was later given to none other than his own son - Brahma Jnani (man of supreme knowledge) Sri Shuka. The Bhagavatham that we read is the one that Sri Shuka narrated to King Parikshith (son of Abhimanyu and the grandson of Arjuna) on the banks of the Holy Ganges for seven days. Just listening to the narration of Bhagavatham took Parikshith to eternity. Such is the greatness of this text. It is said that,
"Shrimad Bhagavathaakhyoyam Prathyaksha Krishnavahai"
“Bhagavatha Sapthaham” is conducted regularly during “Vaisagham”of every year .This too was initiated by Bhagavatha Hamsam Brahmasree Malliyoor.