| Director | Ashutosh Gowariker |
|---|---|
| Genre | historical film |
| Country | India |
| Budget | ₹90 crore |
| Box office | ₹49.3 crore |
By 1758, the Maratha Empire has reached its height under Peshwa Balaji Baji Rao (Nana Saheb). Maratha commander Raghunath Rao defeats the Nizam of Hyderabad and recruits his artillery commander, Ibrahim Khan Gardi, into the Maratha Army. After returning to Pune, Sadashiv is appointed finance minister over the Peshwa's son Vishwas Rao, despite his reluctance.
Sadashiv discovers that Najib ad-Dawlah, the chief of Rohillakhand, owes a large amount of unpaid taxes to the Marathas. Fearing Maratha expansion, Najib seeks the assistance of Afghan ruler Ahmad Shah Abdali. When Najib subsequently kills Maratha general Dattaji Shinde, the Peshwa orders an expedition to defend Delhi and confront Abdali. Raghunath Rao refuses to lead the campaign without additional funding, so Sadashiv is appointed commander of the Maratha army, with Vishwas Rao accompanying him.
The Marathas march north and attempt to form alliances with regional rulers, including Maharaja Suraj Mal and Nawab Shuja-ud-Daulah. Their army grows substantially, but Shuja ultimately joins Abdali. After capturing Delhi, the Marathas move toward Kunjpura and defeat the Afghan forces stationed there. Abdali responds by crossing the Yamuna and cutting off the Maratha army's supply routes. With food supplies dwindling, the Marathas become increasingly weakened while Abdali's forces surround them near Panipat. Abdali and Sadashiv briefly negotiate a truce, but the talks collapse over Abdali's demands. Both armies then prepare for a decisive battle. Before the fighting, Sadashiv entrusts Malhar Rao Holkar with protecting the civilians accompanying the Maratha army, while Vishwas Rao promises to remain on his elephant for his own safety.
The Battle of Panipat begins with artillery and infantry attacks. Ibrahim Khan's artillery initially gives the Marathas an advantage, and Abdali's forces begin to retreat. However, Vishwas Rao leaves his elephant after seeing Shamsher Bahadur wounded. While protecting him, Sadashiv is unable to prevent Vishwas from being fatally shot. His death severely damages Maratha morale, and the battle turns against them. Several Maratha commanders are killed or wounded, while Ala Singh's forces unexpectedly withdraw after secretly siding with Abdali. Malhar Rao retreats with the non-combatants, while Sadashiv remains behind to fight. Seriously wounded and surrounded by Afghan soldiers, he eventually dies on the battlefield.
After returning to Pune, Parvati Bai dies from grief. Abdali sends Nana Saheb a letter acknowledging Sadashiv's bravery. Although Abdali wins the battle, he does not remain in India. Ten years later, under Peshwa Madhav Rao, Maratha commanders Mahadaji Shinde and Tukoji Rao Holkar recapture Delhi, restoring Maratha influence in northern India.