The answer is it represents the Lokeshvara, Lord of the World. Lokeshvara is a multi-armed form of Avalokiteshvara that seems to have been famous in Nepal since the middle ages. The name advocates that he is the lord of the world with reliable noose which leads grief sentient beings to insight.
Explanation:
Cast and drop shadows are another common way to add depth. Reflections work similarly in that a reflection appears on a different surface. The illusion of depth can be increased by making the shadow larger and lighter and further away from the object. Blurring the edges of shadows also increases the illusion of depth.