Step 1: Understanding the Concept:
The question links the Shanti Swaroop Bhatnagar Prize to the institution that its namesake, Prof. Shanti Swaroop Bhatnagar, was closely associated with.
Step 2: Detailed Explanation:
Prof. Shanti Swaroop Bhatnagar (1894–1955) was an eminent Indian colloid chemist and scientist.
He is revered as the "father of research laboratories in India" and was the first Director-General of the Council of Scientific and Industrial Research (CSIR).
The Shanti Swaroop Bhatnagar Prize for Science and Technology is awarded annually by CSIR to honor his memory and recognize outstanding Indian research.
Therefore, the institution associated with him is CSIR.
Step 3: Final Answer:
The institution associated with Prof. Shanti Swaroop Bhatnagar is CSIR.