The inscription reads gusai ji damodar ji ki chhabi chhey (image of Gosain Damodar). Damodar Gosainis a famous historical figure and a hero but not in the martial sense. He is said to have been instrumental during the year 1670 in rescuing the image of Shri Nathji from the threat of Aurangzeb's iconoclasm by removing it to a safe place. Eventually their destination became Udaipur, although when the bullock cart in which the idol was concealed eventually became entrenched in deep mud with all efforts failing to free it. This was taken as a signal that this was the spot chosen by Shri Nathji as his new abode, with the result being the building of Nathdwara temple.
The text to the reverse of the painting refers to canto 10, chapter 11, verses 41-45 describing how one day when Krishna, Balarama and gopas (cowherd boys) were tending calves the demon Vatsasura appeared with intent to kill the two boys. The demon disguises himself as a calf but was unable to outwit Krishna who saw through the disguise and grabbing Vatsasura whirled him into the air where he landed lifeless on top a tree before falling to the ground where we see him in normal guise but now lifeless.
Note: Mahakala is a wrathful manifestation of Shiva Bhairava, taken up in an Esoteric Buddhist context as a fierce manifestation of the bodhisattva Avalokiteshvara as guardian of the dharma (Buddhist law) and the sangha (community of monks and nuns). He is shown here enthroned on a lotus cushion—another supports his pendant foot—wielding a sword and trident and displaying a skull cup (kapala); his missing fourth hand likely held the flaying knife. He wears a skull diadem with radiating flames. A skull garland is slung around his waist, and snakes form his sacred cord and armbands. A kneeling couple, presumably the donors who commissioned the icon, make an offering below. A Sanskrit inscription in proto-Bengali script identifies them: it states, in part, “this is the pious gift of Dahapati.”