Yes, he counterattacks

For several minutes the demon and your former master go back and forth. Just when it looks like the demon may get one of his arms completely free, three more hands grab onto his forearm. When the demon seems to be weakening from the **** of more and more restraints, he roars and turns his body, throwing off a half dozen in one movement.

For a while it is uncertain who will gain the upper hand, but over time it becomes obvious that the wizard is slowly running out of mana. He apparently didn't expect to need to continually cast the spell for as long as he's been holding it, and the demon doesn't seem to be weakening at all. The number of hands trying to restrain the demon begins slowing down. Over time, the number of hands restraining him goes down as fewer new ones replace the ones he is ripping off. Eventually he gets his entire right arm free, roaring with satisfaction as he begins tearing at the restraints on his other limbs.

The wizard, knowing he's lost, takes his hand off the wall, stopping any new hands from appearing. He leans back against the wall and stares, horrified, at the demon, no doubt expecting the demon he summoned to retaliate against him.

Sure enough, as soon as he is completely free, he takes several steps forward, taking extra care to step over you, and roars at the wizard. "Puny human! Just because you request my presence, you think you can control me? I am Mar'aath, Demon of Lust. Remember my name, for it is the last your pitiful mind will hear!" As his monologue ends, he holds up one clawed finger toward the wizard. At the tip of his claw, a bright red ball of light forms. When he releases it, it hits directly in the wizard's chest, making him cry out in pain.