This is a fine example of the so-called Sub-Imperial Mughal school. It displays certain idiosyncratic features, such as the way the text block cuts right across the faces of the lower band of figures and the slightly asymmetric area of the text block.
The miniature is unusual in showing Rustam, the Iranian mythical hero as a dark skinned figure seated like a Mughal ruler in darbar.
Another leaf from this manuscript, similarly mounted with later gold margins was sold in these rooms, 13 June 1983, lot 121. Apparently by the same artist as the present lot, it depicted Rustam paying homage to Kay Khusrau in a similar court scene and was later somewhat wishfully inscribed with the name of the artist Khwaja 'Abd al-Samad.
Other leaves from the manuscript with miniatures by different artists have been sold at Sotheby's, London 27 March 1973, lot 27 and New York, 28 October 1991, lot 7.