— the bliss of being (sattva as delight); — action; — of the Lord; — the privation of that (delight); — also; — it (that same action); — of the bound soul; — of dual nature (pleasure-and-pain); — that; — rajas; — (as) pain; — adhering (binding the two together); — consisting of sattva and tamas
The bliss of being is the Lord's action; for the bound soul, that same (action), now of dual nature (pleasure and its privation), is rajas — that adhering, painful (rajas) which binds together what consists of sattva and tamas.