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The city is known for its rich heritage and culture. The city has many historical monuments, including the Akola Fort built in 1733 by the Gond Kings of Deogarh. It was later captured by Maratha forces under Raghuji Bhonsale I in 1742, who renamed it as "Rajgad". After his death, it became a part of Nizam Empire until 1803 when Yashwantrao Holkar took over control of the fort from Asaf Jah II's army and made it his capital after defeating him at Battle Of Poona (Pune). In 1817 he lost to British East India Company at Third Anglo-Maratha War but regained independence after two years only to lose again in Second Anglo-Maratha War this time permanently. Akola remained an important military outpost during much of history due to its location on trade routes between northern and southern India; however today there are no major military installations or bases located within Akola District or Maharashtra State borders.