The Treaty of Bassein was signed on December 31, 1802, between the British East India Company and the Maratha Empire. This agreement aimed to establish a British protectorate over the Maratha territories, allowing the British to intervene in Maratha affairs and maintain peace in the region. The treaty was significant as it marked a shift in power dynamics in India, leading to increased British influence. It also set the stage for further conflicts, including the Second Anglo-Maratha War, which ultimately resulted in the decline of Maratha power and the expansion of British control in India.