I don't think Cassandra is sniffing at Ram Naths moustache. I rather believe she is practicing a rite pretty common and therefore socially accepted at cattle fairs in Pushkar: Snuffling at each others pubic hair in order to assess for how long it has been uncut. And believe me, Ram Nath is sporting a truly remarkable hair growth here!
Other links illustrating that habit:
http://data2.blog.de/media/534/936534_3046d9438c_m.jpeg
http://flickr.com/photos/sugarcoma/2210763651/sizes/o/
http://www.flickr.com/photos/paren/2363905373/
Actually, the main question for me is why Ram Naths name (Chowdhury) claims that he is literally "a holder of four". Is he in control of four different fighting forces? And what kind of forces would that be? Or does he belong to a specific class of landholders? Or what?