Alice Heeramaneck, Masterpieces of Indian Painting, Verona, 1984, pl. 94, p.108 

Fair and stable overall condition as viewed. Abrasions to pigment in areas of the red ground are not all visible in catalog illustration, however losses to white and salmon color tones are visible in catalog illustration. Flaking to pigments to horses tail and stable, the feet, dress, hand and face of the standing figure, the sword and sash-ends of seated lord all visible in catalog illustration. Some staining to red ground on center left clearly visible in catalog illustration. The red is lighter in reality. This lot is exhibited in a temporary frame.
In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective qualified opinion.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING CONDITION OF A LOT, ALL LOTS ARE OFFERED AND SOLD "AS IS" IN ACCORDANCE WITH THE CONDITIONS OF SALE PRINTED IN THE CATALOGUE.

A variant of Kalki the 10th avatar of Vishnu - the horse depicted a mottled blue color instead of the traditional white.  A golden-crowned seated lord - depicted blue in the guise of Vishnu - receives a respectful, saluting groom leading a saddled stallion.  Holding a broadsword and a small shield, he is dressed in a saffron jama - his gaze fixed preparing for battle.  Against a brilliant cinnabar red ground.

Except for the intriguing change in the horse's coloration, the painting has the traditional Pahari iconography and composition of Kalki Avatar: a blue-skinned seated lord holding a battle sword, being approached by a bowing and saluting groom dressed in a campaign green jama, bringing the lord's stallion for battle at the end of Kaliyuga.  However the iconography of Kalki is nearly always traditionally depicted with a white horse.  As conjecture, our painting may be a variant of Kanada Raga - a folio from a Ragamala series depicting a warrior hero being saluted and honored and/or a portrait of the patron of the work - given the distinctive features and side curls of the blue-colored nobleman - depicted here in the guise of Vishnu.  It may also be a folio from another series presently unidentified.  It does remain a striking and enigmatic early Pahari painting - possibly from the small court of Chamba, whose atelier produced emotionally-charged paintings in the Basohli kalam. Of note is the inscribed pen m𓆉ark "A. Heeraman.." on the reverse of this vibra꧑nt painting.