Step 1: Diazotization
Aniline reacts with $\text{NaNO}_2 + \text{HCl}$ at $273-278\text{ K}$ to form Benzenediazonium chloride (Product 'A').
Step 2: Hydrolysis
When an aqueous solution of Benzenediazonium chloride is warmed ($\Delta$), it undergoes hydrolysis.
Step 3: Conclusion
The reaction is: $C_6H_5N_2Cl + H_2O \to C_6H_5OH + N_2 + HCl$. Product 'B' is Phenol.
Final Answer: (D)