Titled, 'The Ties That Bind: South Asian Modern and Contemporary Art', the sale will focus on artists who have redefined the art scene in their countries.
Padamsee's work that will lead the auction, consists of richly textured areas of mixed colour juxtaposed against smaller, flat colour planes, rendering it a mesmerising luminosity.
The painting is estimated at Rs 3.5 - 4.5 crore.
The sale will also have a section dedicated to iconic painter M F Husain, with lots 56 - 84 comprising artworks reflective of the range and depth of his artistic vision.
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Works by Sri Lankan artists like George Keyt, Pala Pothupitiye and Senaka Senanayake are among other highlights.
The sale will feature two lots by Keyt, one of the most celebrated 20th century artists from Sri Lanka, who draws inspiration from different aspects of Buddhist literature and temple architecture, as well as Puranic narratives and Indian erotic iconography.
"The sale reflects the inspiration and exchange of ideas across South Asia, from the early years of Independence to the present.
Colombo-based contemporary artist Pothupitiye is part of the '90s Trend', an art revolution in Sri Lanka that emerged in response to the civil war that affected the nation for more than two decades.
His 'Chavakachcheri Map', estimated at Rs 2 - 3 lakhs highlights the political dynamics of neo-colonial Sri Lanka in transition, and the uncertainty it imposes on the common man.
Senanayake's art is dominated by the forests of the souther neighbour. His 1980 canvas, estimated at Rs 8 - 10 lakhs seeks to create awareness about the rapidly depleting green cover in the country.
The auction on saffronart.Com which begins on November 30, will be preceeded by viewings in New Delhi, New York and Mumbai. It will come to a close on December 1.