Girlfriend :Babaji Ka Thullu is trending. What does it means ?
Boyfriend :It's 'Nothing'
Girlfriend :Why? Tell me na... please...
Boyfriend :Arre uska matlab 'kuchh nahi' hota hai.
Girlfriend :Bata na bhav kyu kha raha hai ?
Boyfriend :Bola to 'kuchh bhi nahi' hota hai.
Girlfriend :Kaminey,akhiri baar poochh rahi hoon,ek word me chup chap answer de.
Boyfriend : Ghanta....
Girl gives him 4-5 tight slaps.
Boyfriend : Mujhe maar ke tujhe kya mila ?
Girlfriend : Kuchh nahi.
Boyfriend : Yahi hota hai 'Babaji Ka Thullu'
Girlfriend : Sweetu, pahle nahi bata sakte the ?
Aam Aadmi Mehnat Se Paise Kamata Hai.. Tax Pay Karta Hai.. Vote Karta Hai Usko Kya Milta Hai? BABA_JI_KA_THULLU
Aap 5 Inch Ka Phone Lete Hai..Sochte hai Ladki Pat Jayegi Phone Dekhkar.. Aapko Kya Milta Hai? BABA_JI_KA_THULLU
Baccha Engineering College Join Karta Hai.. Sochta Hai Ki Voh Mazze Karega.. Ladkiya Patayega.. Usse Kya Milta Hai? BABA_JI_KA_THULLU
Aap FB Pe Kisi Ladki Ke Comment Ke Neeche Likhte hai "ADD ME I'M BLOCKED" Aur Sochte hai Ki Ladki Aap Add Karegi.. Aapko Kya Milta Hai? BABA_JI_KA_THULLU
BBM Chalane Ke Liye Blackberry Khareedne Walo Tumhe Kya Mila? BABA_JI_KA_THULLU
A Mein Agar Aap Paper Revaluation ke Liye Dete Hai.. To Aapko Kya Milega? BABA_JI_KA_THULLU
kal Mera exAm hai ! wo bI hIndi ka , exam dE kr hume kya milega ? BABA_JI_KA_THULLU
HuM RoJ FaCeBooK Pe StaTus UpDate Karte Hai Usse Milta Kya Hai.....???? BABA_JI_KA_THULLU
chatroom par kisi ladki ko msg kro ''Hi" to wo kya reply karti hai.....???? BABA_JI_KA_THULLU
maine itni mehnat se page banaya. likes laayi active kiya par mujhe kya mila? BABA_JI_KA_THULLU
Aap Apni Gf Ko Bolte Hai Ki Apko Call Kare Par Badle Me Aap Ko Kya Milta Hai? BABA_JI_KA_THULLU
Rahul Gandhi gathered all his courage, memorised so many answers and went to face Arnab Goswami. What did he get? "Babaji ka thullu"
Sunny Deol gathered all his money, wasted all his time and made Singh Saab The Great. What did he get? "Babaji ka thullu"
Ravichandran Ashwin after a successful season in India, went to tour the 8th ranked New Zealand hoping to get as many wickets as possible. What did he get? "Babaji ka thullu"
Salman Khan dated so many women(Aishwarya, Katrina, Zarine etc). What did he get? "Babaji ka thullu" (If you know what exactly I mean)
The word 'Ghanta' actually means the typical bell used in various Indian rituals from time immemorial.
But its other meaning which you are asking here is actually a slang. This slang has been part of the Mumbai lingo (Marathi, Hindi and Hinglish) since long time. This slang is now used in Maharashtra and other states in India as well.
This slang has many connotations but the two major ones are as follows-
1) It means 'nothing' 'zero' or 'zilch'.
Example 1: 'Tumhe Ghanta kuch aata hai.' literally means 'You are good for nothing.'
Example 2: Guy 1- Did you understand anything?
Guy 2- Ghanta!
Example 3: Guy 1- Was that food tasty?
Guy 2- Ghanta Tasty!
2) It also has a vulgar meaning. It means 'Penis' (Male sex organ).
Actually the word Ghanta is used to camouflage the other harsher vulgar meanings of the word penis which are used as swear words in Marathi, Hindi and other Indian regional languages.
So basically the word 'Ghanta' acts as figure of speech called as Euphemism i.e.innocuous word or expression used in place of one that may be found offensive or suggest something unpleasant.
Example 1: 'Tu aur tera ghanta kuch kaam ka nahi hai, waat le idhar se.' This roughly translates to- 'You and your fireman are of no use, get the hell outta here.'
Example 2: Marathi- 'Tu kashala aalas ikde? Tujhi ghanta wajwayla?' means 'Why the hell did you come here? To shake your cock?'
P.S. I don't think the word 'Ghanta' is used in Comedy Nights with Kapil, instead an equivalent which is very famous nowadays is used- 'Babaji Ka Thullu'.
'Babaji Ka Thullu' has similar meaning if not same as the word 'Ghanta'. (Majority of times only the first meaning i.e. 'Zilch' or 'Nothing')