Explanation:

- Option 1: "the village panchayat" is grammatically correct. It accurately refers to the governing body in a village.

- Option 2: "hosted by" is also correct. It's a common expression used to indicate who is organizing an event.

- Option 3: "attended the feast" is properly structured. It effectively describes the action of participating in a meal.

- Option 4: "Much villagers" contains a grammatical error. "Much" is used with uncountable nouns, while "many" is used with countable nouns like "villagers." The correct phrase should be "Many villagers."