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sa vai bhagavatah srimat
bheje sarpa-vapur hitva
The snake had all his sinful reactions destroyed by the touch of the Supreme Lord’s divine foot, and thus he gave up his serpent body and appeared in the form of a worshipable Vidyadhara.
The words rupam vidyadhararcitam indicate that the erstwhile snake appeared in a beautiful form worshipable among the demigods called Vidyadharas. In other words, he appeared as the leader of the Vidyadharas.