The black inscription within the peach border is a later caption saying "Hazrat Maryam," indicating the subject is the Virgin Mary. The gold signature most probably reads 'amal-i Shyam Das,' the name of the painter working in Oudh.
The nasta'liq on the other side is signed "Written by the servant, the sinner, 'Abd al-Rashid al-Daylami, May God forgive him." He was one of the highest-ranking Mughal calligraphers of his day and worked under Shah Jahan.
The seal reads: A'zam al-Daula Bahadur, 1186 (1772-73). This same seal has been found on two other paintings: Krishna swoons on a terrace at the sight of Radha by Fath Chand, Lucknow, ca. 1750-70 (Victoria and Albert Museum, London, IS 7-1957); and a panel of calligraphy with an image of two poets, Northern India, 1622, see J. Cummins, Indian Painting, 2006, plate 30, p. 68