सर्वलोकस्य by all the worlds, अर्चितम् revered, सपताकम् along with the flag, सवेदिकम् along with the altar, सुपर्णेन by Garuda, नागहेतोः on account of serpent, उन्मथितम् destroyed, चैत्यं यथा like the sacred chaityaa place of worship.

Vali looked like a chaitya (a tree of worship) having a banner and altar and reverentially worshipped by the entire world, but destroyed by Garuda on account of a serpent (hidden in it). (Here Rama is Garuda, Sugriva, serpent and Vali a sacred Chaitya)