Husain's canvas, one of eight works by the artist in the sale, depicts a group of horses in a composition that captures the energy and power of the animals.

'Horses play an important part in Husain's art. They are often shown riderless and staring into the distance at an unseen audience. On the far side of this painting, a horse is seen leaving the group which is dominated by a grey stallion creating a subtle tension in the work,' said Zara Porter-Hill, head of the Indian Art at Sotheby's.

Gaitonde's work has dense layers with a roller and palette knife instead of a paint brush to give it a stripped abstract feel. An untitled canvas of a joker by F.N. Souza is also another important art work estimated at $150,000.

'Following the success of our June sale of Indian art in London which surpassed expectations we have assembled a tightly edited sale with an emphasis on quality works at reasonable estimates,' Porter-Hill said.

The highlight of the Jataka series is an illustration, 'The Sixth Dream of King Pesandi', painted between 1780 and 1790.

A selection of cutting-edge contemporary art from Pakistan, including a sculpture by young Pakistani artist Adeela Suleman whose work is influenced by the complex social and situation in the country, will also go under the hammer.