Concept:
Chronological order means arranging artists from earlier to later according to their historical period.
Step 1: Identify the earliest artist.
Raja Ravi Varma belongs to the nineteenth century and early modern phase of Indian painting.
So, he comes first:
\[
D = \text{Raja Ravi Varma}
\]
Step 2: Place Somnath Hore.
Somnath Hore belongs to the twentieth century and is important in modern Indian printmaking and sculpture.
So, he comes after Raja Ravi Varma:
\[
A = \text{Somnath Hore}
\]
Step 3: Place Laxma Goud.
Laxma Goud is a later modern Indian artist known for printmaking and drawing.
So, the next is:
\[
E = \text{Laxma Goud}
\]
Step 4: Place Vijay Bagodi and H. G. Venugopal.
Vijay Bagodi comes after Laxma Goud in this sequence.
H. G. Venugopal is placed last in the given chronological order.
Thus:
\[
B = \text{Vijay Bagodi}
\]
\[
C = \text{H. G. Venugopal}
\]
Step 5: Final arrangement.
The correct chronological order is:
\[
D \rightarrow A \rightarrow E \rightarrow B \rightarrow C
\]
Hence:
\[
\boxed{\text{(C) D, A, E, B, C}}
\]