To answer this question, let's go through each option to understand why it is correct or incorrect:
Option A) Founder of the organization - This option is incorrect because Lalbaug is not the name of a founder of an organization.
Option B) The Market where currently Lalbaug Ganeshotsav is being held - This option is correct because Lalbaug refers to an area in Mumbai, India, which is known for hosting the famous Lalbaug Ganeshotsav festival. This festival is held in the Lalbaug market area, where a massive Ganesh idol is installed and worshipped by thousands of devotees.
Option C) One of the names of Lord Ganesh - This option is incorrect because Lalbaug is not one of the commonly known names of Lord Ganesh.
Option D) Birthplace of Lord Ganesh - This option is incorrect because Lalbaug is not considered to be the birthplace of Lord Ganesh. According to Hindu mythology, Lord Ganesh was born in the Kailash Parvat region.
Therefore, the correct answer is B) The Market where currently Lalbaug Ganeshotsav is being held. This option is correct because Lalbaug refers to the area in Mumbai where the famous Lalbaug Ganeshotsav festival takes place.