India, April 3 -- A 35 x 28.25-inch oil painting by Raja Ravi Varma sold for Rs.167.2 crore at the Saffronart spring auction on Wednesday, making it the costliest Indian painting to be sold in an auction till date. Earlier, it had carried a pre-sale estimate of Rs.80 crore to Rs.120 crore. Titled Yashoda and Krishna, the work was made by the feted Indian artist in the 1890s and captures an intimate moment of maternal affection between the infant Krishna and his foster mother, Yashoda. The painting stands out for its emotional depth, delicate composition, and masterful use of light and detail. The artwork was sold to Cyrus S Poonawalla, founder and managing director of Serum Institute of India. It has surpassed the previous record held by MF Husain's 1954 Untitled (Gram Yatra), which sold for over Rs 118 crore last year at a Christie's South Asian Modern + Contemporary Art auction in New York.The Raja Ravi Varma work sale surpassed the record by Rs.49.2 crore, an increase of over 40%.HTC...