In this painting, the horse at center is identified by the inscription above his head (shyama karana, the name used to refer to the sacrificial horse). The three men identified as raja by inscription are probably Rama's sons, Kusha and Lava, and their teacher, the great sage Valmiki. For a full description of the ashvamedha (horse sacrifice), see lot 1099.
This painting possibly comes from the same dispersed series as a work at the Brooklyn Museum of Art, "Battle between Lava and Rama's brother, Shatrughna, near the hermitage of Valmiki" (acc. no. 75.203.2), also from the collection of Mr. Ed and Mrs. Doris Wiener.