परिषदो ण्यः

Operational rule vidhi

The affix ण्य comes in the sense of 'excellent with regard thereto' after the word परिषद.

Word by word (padaccheda)

Left context परिषदः pañcamī · ekavacanaSubstitute / term य ः prathamā · ekavacana

Left context Pañcamī (5th case): "after X", the operation applies to what follows (1.1.67 तस्मादित्युत्तरस्य). Also used for limits and sources.
Substitute / term Prathamā (1st case): in operational rules, the substitute or the thing introduced; in definitions, the term or its referent.

Dotted words are technical terms. Hover or tap one to see its card.

Pink letters are it-markers (anubandhas), tags dropped by 1.3.9. Hover or tap one for the rule that marks it, or try the it-letter finder.

Full reading

परिषदः ण्यः

Pāṇini leaves out words that carry over from earlier sūtras. Expand to see the rule as a reader actually understands it.

Commentary

The affix ण्य comes in the sense of 'excellent with regard thereto' after the word परिषद।
This debars यत् ॥ Thus परिषदि साधुः = पारिषद्यः ॥ The affix ण is also employed here. Thus परिषदि साधुः = पारिषदः 'one versed in the affairs of a council' 'a minister'.

Śrīśa Chandra Vasu, The Ashtadhyayi of Panini (1897), via ashtadhyayi.com.