So, what basically happens is that one day the dēvas notice how no humans are performing Yajñas and worshipping them. Indra and other dēvas approach Brahmā and express their concerns. They are advised by him to worship Lakṣmī.
The dēvas meditate on Lakṣmī and worship her with her 28 names. She appears and blesses them. She creates Manmatha, i.e., Kāmadēva, her son. She sends Kāmadēva with the dēvas to assist them and solve their problems. Indra doubts his capabilities, though he proves himself more than capable.
Kāmadēva comes to earth and begins to capture humans who refuse to worship gods. All the people are loyal to the king, Rājā Vīravrata of Brahmāvarta. He was a very powerful and influential king. He and his family are devotees of Mahēśvara, i.e., Śiva.
Vīravrata meditates to Śiva and worships him to get his blessings to prepare for battle. Śiva appears before him, and Vīravrata asks for liberation and detachment, though Śiva advises him about his duties. The ministers and sons of Vīravrata prepare to fight Manmatha (Kāmadēva), and they are blessed by their guru with the Rudrakavaca.
Indra and other dēvas show up to assist Kāmadēva in the battle. Afterwards, there is a fierce battle between the dēvas and Vīravrata’s sons. Eventually, Vīravrata himself comes to the battlefield to fight Kāmadēva himself. Vīravrata got a weapon (trident) from Śiva, which he used against Kāmadēva. Kāmadēva is struck by the celestial weapon and falls lifeless and unconscious on the battlefield.
The dēvas take him to Lakṣmī and inform her about what happened. Dēvī Lakṣmī prays to Dēvī Tripurā and revives her son Manmatha (Kāmadēva), causing him to regain consciousness. Lakṣmī advises him to worship Śiva to gain victory over his enemies. Though, Kāmadēva refuses to worship Śiva because he is the ārādhya of his enemies.
Dēvī Lakṣmī asks Dēvī Gaurī, the consort of Śiva, to convince Kāmadēva to worship him. Though, he doesn’t listen and refuses to do so out of his stubbornness. Gaurī becomes angry and curses him to be burnt by Śiva. Lakṣmī becomes angry because of this and curses Gaurī to be burnt in Dakṣayajña. Gaurī retaliates by cursing Lakṣmī to be separated from her beloved husband, Viṣṇu, which later caused her to be separated from Rāma when she was Sītā.
After this, Gaurī and Lakṣmī become extremely angry with each other, and they appear on the battlefield and start waging war against each other. There is a very fierce and terrifying battle between the two Mahāśaktis, which causes great destruction in all the worlds, which shake and tremble. The dēvas become afraid. Śiva and Viṣṇu come to the battlefield to stop Gaurī and Lakṣmī. Though, due to the great powers of Gaurī and Lakṣmī Śaktis, they both faint and fall unconscious on the ground.
Afterwards, Lakṣmī overpowers Gaurī and defeats her. Lakṣmī pierces Gaurī with her arrows and causes her to fall unconscious on the battlefield, and she is severely wounded. She began to bleed, and as her blood was flowing, fire started to appear and blaze, which was causing great destruction to the lands and the world.
The dēvas become very concerned and worried. Brahmā prayed to Lakṣmī and eulogized her with a hymn, and other dēvas and other divine celestial beings, such as Siddhas, Gandharvas, Vidyādharas, etc., all together prayed to her in great distress and requested her to save them and all of creation, as she is the one who sustains all creation. Lakṣmī answers their prayers and says, "Do not fear." She then swallowed or engulfed the fire, which was destroying everything.
By the showers of her ambrosial glances, she brought back to life and revived the dēvas, the human beings, and others who were burnt by the fire. Then Viṣṇu and Śiva regained consciousness and arose. After that, Gaurī regained consciousness and approached Lakṣmī with anger, throwing out fire from her anger. The Tridēvas, seeing the anger of Gaurī and Lakṣmī, prayed to Bhāratī (Sarasvatī), the consort of Brahmā, and she was requested by Brahmā to pacify both Lakṣmī and Gaurī.
Gaurī and Lakṣmī were furious with each other still. Sarasvatī came to Lakṣmī and Gaurī on the battlefield and stood in between them both, and joined both of their palms (hands) together and stopped them from fighting. She addressed them and said that anger, which consumes the world, does not fit either of them.
She then clarifies the nature of their mutual curses. She says that by the curse of Gaurī, Kāmadēva will be burnt by Śiva and will become alive again for the sake of Pārvatī (in the future when Gaurī would incarnate as Pārvatī) and will win Śiva. Gaurī in the form of Dākṣāyaṇī will be [self-]immolated after hearing the insult of her husband.
Sarasvatī then says to Lakṣmī that due to the grief caused to her by her co-wives, she will lose her existing form of hers and get a more beautiful one. She proceeds to say to Lakṣmī that during the incarnation of her husband (Rāma), she will bear the pain of separation from him (as Sītā). Sarasvatī then pacified both Gaurī and Lakṣmī with her words of wisdom and stopped this battle. Both of them then attained great peace.
In conclusion, all of this was a līlā, and it was all predestined and meant to happen. The goddesses are all equal. The Tripurā Rahasya states that the Tridēvīs are indifferent and equal, and it is also stated that they are forms of Bhagavatī Tripurā. It says as follows:
तस्मात्प्रधानरूपाणि कानिचित्कथयामि ते ।
आद्या कुमारी तत्रोक्ता त्रिरूपाऽनन्तरा मता ॥ १४ ॥गौरी रमा भारतीति ततः काली च चण्डिका ।
tasmātpradhānarūpāṇi kānicitkathayāmi tē ।
ādyā kumārī tatrōktā trirūpā'nantarā matā ॥ 14 ॥gaurī ramā bhāratīti tataḥ kālī ca caṇḍikā ।
Hence, I (Dattātrēya) will tell you about some prominent forms [of Tripurā]. Her primordial form is Kumārī. Her next three prominent forms are of Gaurī, Ramā (Lakṣmī), and Bhāratī (Sarasvatī). Kālī and Caṇḍikā are her forms as well.
—Tripurā Rahasya 1.10.14–15a
Sarasvatī stopping the battle between Lakṣmī and Gaurī