Madhavrao I
The city gained further importance as the Maratha dominance increased across India under the rule of Bajirao I's son, Balaji Baji Rao, also known as Nanasaheb. After the disastrous Battle of Panipat in 1761, Maratha influence was curtailed. At that time, the Nizam of Hyderabad looted the city. The city and the empire recovered during the brief reign of Peshwa Madhavrao I. The rest of the Peshwa era was full of family intrigue and political machinations. The leading role in this was played by the ambitious Raghunathrao, the younger brother of Nanasaheb who wanted power at the expense of his nephews, Madhavrao I and Narayanrao. Following the murder of Narayanrao on the orders of Raghunathrao's wife, in 1775, power was exercised in the name of the son of Narayanrao, Madhavrao II, by a regency council led by Nana Fadnavis for almost the rest of the century. For most part, the Peshwa rule saw the city elites coming from the Chitpavan Brahmin community. They were the military commanders, the bureaucrats, and the bankers, and had ties to each other through matrimonial alliances.