Explanation:

- M. K. Gandhi: He advocated the Trusteeship Theory of Industrial Relations. Gandhi's concept was that the wealthy should hold their wealth in trust and use it for the welfare of society.

- N. M. Lokhande: Known as a pioneer of the labor movement in India but did not propose the Trusteeship Theory.

- V. V. Giri: Served as the President of India and was involved in labor issues, but did not advocate the Trusteeship Theory.

- Karl Marx: Famous for his theories on socialism and communism, opposing capitalist notions, not associated with the Trusteeship Theory.