tasmai -- to him; hi -- indeed; avocat -- spoke; bhagavan -- the Supreme Lord; rishinam -- the sages; srinvatam -- as they listened; idam -- this; yah -- which; brahma -- about the Absolute Truth; vadah -- discussion; purvesham -- ancient; jana-loka-nivasinam -- among the inhabitants of Janaloka.

As the sages listened, Lord Narayana Rishi related to Narada an ancient discussion about the Absolute Truth that took place among the residents of Janaloka.