Sorry, can't help you with translation but I am pretty sure it says something along the lines of "I'm gonna kick your butt! Oh yeah?! I'm gonna kick YOUR butt!" and then the guys in the castle say "when you are done come over here and we will kick all of your butts!"
On a serious note, I love Indian miniature paintings/illuminations and find this one to be particularly attractive. Are you sure it's Sikh?
By the way BUMP! We need a translation!