The Battle of Haldighati was fought between the armies of Akbar and Maharana Pratap. Option 1, which states that the battle was fought between Babur and Lodi Empire, is incorrect. Babur was the founder of the Mughal Empire and the Battle of Haldighati took place much later during the reign of Akbar. Option 2, which suggests that Babur and Rana Sanga fought in the battle, is incorrect as well. Rana Sanga was a Rajput ruler who opposed Babur`s invasion, but he died before the Battle of Haldighati took place. Option 3, which states that the battle was fought between Akbar and Hemu, is also incorrect. Hemu, a Hindu king, fought against Akbar in the Second Battle of Panipat, not the Battle of Haldighati. Therefore, option 4, stating that the battle was fought between Akbar and Maharana Pratap, is the correct answer.