tam - him (Takṣaka); gopāyati - is hiding; rāja-indra - O best of kings; śakraḥ - Lord Indra; śaraṇam - for shelter; āgatam - who has approached; tena - by that Indra; saṁstambhitaḥ - kept; sarpaḥ - the snake; tasmāt - thus; na - not; agnau - into the fire; patati - does fall; asau - he.

The brāhmaṇas replied: O best of kings, the snake Takṣaka has not fallen into the fire because he is being protected by Indra, whom he has approached for shelter. Indra is holding him back from the fire.