He turned down the offer of an official mansion and continued to live in his humble ancestral home in the Brahmin quarter of Poona city on his modest income.

As a young Brahmin student of Advaita vedanta, he had studied the Vedas, Upanishads and Puranas and was so well-versed in the Hindu scriptures, that he was considered as an authority in Pune in those times.

[6] After the debate, as a mark of respect and tribute to the scholarship of the pontiff he gave up his house and the structure is surviving to this day as the Shri Varadendra Swamy Mutt on Laxmi Road in Pune.

The following year, an act infamous in the history of the Maratha Empire was perpetrated when the young boy was murdered, at the behest either of the Regent or of his wife Anandibai, by Raghunath Rao's guardsmen.

On the quiet winter night of 17 December 1772, the assassins entered his private quarters at Shaniwarwada in Pune; the boy-Peshwa ran for safety to the apartments of his uncle and aunt, knowing little about the true origin of the plot.