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Option 1: HCL is correctly matched with Shiv Nidar. This implies that Shiv Nidar is associated with HCL.
Option 2: Ranbaxi is correctly matched with Bhai Mohan Singh Laboratories Ltd. This implies that Bhai Mohan Singh Laboratories Ltd is associated with Ranbaxi.
Option 3: DLF Group is incorrectly matched with Karsanbhai Khodidas Patel. This implies that Karsanbhai Khodidas Patel is not associated with the DLF Group.
Option 4: Hero Group is correctly matched with B. M. Munjal. This implies that B. M. Munjal is associated with the Hero Group.
Looking at the options, it is clear that the pair in Option 3 is not correctly matched. Karsanbhai Khodidas Patel is a well-known Indian entrepreneur who founded the consumer goods company Nirma Limited. He is not associated with the DLF Group, which is a real estate company.
Therefore, the correct answer is Option 3.