اصطفاء = istifaa (noun)
اصطفى = istafa (verb)
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ma'yah means:
sarmaayah, ra's al-maal, aSl, maaddah, jawhar
source, root, origin, essence, capital/mainstay
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here
ma'yah e iSTafa means: the source of "iSTafa"; the mainstay of "iSTafa"; the essence of "iSTafa"; the wealth of "iSTafa.
here iSTafa does not refer to sayyiduna RasulAllah sallAllahu alayhi wa sallam; because sayyiduna abu bakr is
not the "origin" or "source" for RasulAllah sallAllahu alayhi wa sallam being
MuSTafa;
Haasha-lillah. therefore
iSTifaa as the masdar of
mustafa does furnish the appropriate meaning.
===
rather this is an allusion to the verse of the qur'an, in surah al-naml v.59:
here "
ibadihi'lladhina-STafaa" refers to the companions of sayyiduna RasulAllah sallAllahu alayhi wa sallam.
the shadow of muSTafa - the essence of the address: "iSTafa"
[where Allah ta'ala has referred to the companions as the "slaves of Allah who were chosen"]
and sayyiduna abu bakr is the 'capital' among them - their leader, the highest among them. so
iSTafa refers to the word in the qur'an just as the next couplet alludes to another verse in the qur'an: "
thani ithnayn" [surah tawbah, v40].
similarly the 3rd couplet mentions
sayyidu'l muttaqin refers to the verse where reference to hazrat abu bakr was made as "atqa" or "muttaqun"
surah al-layl, v17:
atqa = the most pious, the most Allah-fearing; sayyidu'l muttaqin. [obviously, excluding anbiya alayhimus salam].
also the verse in surah al-zumar v33: according to some refers to sayyiduna abu bakr:
tabari on above:
if
saddaqa bihi refers to believers in general, then abu bakr is the greatest among those who attest to the truthfulness of sayyiduna RasulAllah sallAllahu alayhi wa sallam.
and now read alahazrat's couplet in this context:
aSdaqu's sadiqin sayyidu'l muttaqin
chashm o gosh e wazarat pay lakhon salam
the second line in the couplet refers to the famous sahih hadith in tirmidhi: "abu bakr and umar are hearing and sight" (meaning they are so valuable and cherished and close to RasulAllah sallAllahu alayhi wa sallam).
أنَّ رسولَ اللَّهِ صلَّى اللَّهُ عليهِ وسلَّمَ رأى أبا بَكرٍ وعمرَ فقالَ : هذانِ السَّمعُ والبصَرُ
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few tafasir which mention that 'iSTafa' refers to the companions of sayyiduna RasulAllah sallAllahu alayhi wa sallam.
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tabari:
baghawi in
ma'alim al-tanzil:
qurtubi in his tafsir:
ibn kathir in his tafsir:
suyuti in al-durr al-manthur:
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Allah ta'ala knows best.