The term "result held in reserve" at Pune University is typically used to refer to a situation where the university has not released the official results of a particular examination or test. This could be due to a number of reasons, such as
One of my friends faced a similar situation. He had appeared for his Eighth Semester as well as Tenth Semester since he had a backlog subject from my 4th year. His result was kept in reserve because despite being able to clear the final year, he could not clear his backlog subject from the 4th year. So your result could also be held in reserve at Pune University for the same reason.
I have a few friends from Pune University. According to them, the result held in reserve can indicate a variety of things as below. If you feel that you cannot fail a subject, then refer to the first point below.
Overall, the above were the few reasons for which the result held in reserve.