Hi,
The script is "Devanagari" which is used for Indian languages like Hindi, Marathi and Sanskrit.
In all probabilities the words are Sanskrit, however I'm not 100% sure. will try to find more.
The Female form looks close to that of "Bhairavi"; a deity in Shiva Family. Also the "Bull" belongs to the Shiva Family depicted here in a part human form.
The two figures on each side depict attendants carry "fan" made of horse hair called "chamar" or "chauri" the other figure is carrying some "circular" disc which is a little tricky to determine.
Weapons like these are often seen in temples and palaces and are termed as those for religious or ceremonial use.
Hope this helps.
Regards,
Bhushan
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