Hint: Nana Phadnavis was a brilliant Maratha statesman who passed away at the age of 58. After the Third Battle of Panipat in 1761, Nana Phadnavis rose to prominence as minister and helped Marathas regain their power and prestige which had suffered considerable wilt in their decisive rout in battle at Panipat.
Complete answer: Before the final decline of Maratha Power had set in there arose among Marathas capable leaders like Nana Fadna-vis, Ahalya Bai, Mahadji Scindia etc. They gave a fresh lease of life toMaratha Confederacy and ably resisted the English expansion and influence. Nana Phadnavis played a pivotal role in holding Maratha Confederacy together in the midst of the internal dissension and growing power of British East India Company. On the death of Nana Fadnavis, Daulat Rao Scindia and Yasovant Rao-Holkar were locked in a deadly struggle for Peshwaship. Ultimately Daulat Rao Scindia and Peshwa Baji Rao II were signally defeated at the hands of Yasovant Rao. Yasovant Rao placed descendants of Raghoba -Vinayak Rao, as a puppet Peshwa and kept all powers of Peshwa in his own hands. Therefore, the two Maratha chiefs who took the control of Maratha after the death of Nana Phadnavis are Holkar and Scindia.
Hence, the correct answer is option (C).
Note: The only Indian Power that possessed the ability and strength to step into imperial shoes of the Mughals after the latter’s fall was Marathas. But they could not take advantage of that situation as a result of that the fullest opportunity was taken by English. Gradually the Marathas were pushed into the background of Indian political scene.