The correct answer is option 1, which states that only statement 1 is correct. Let`s dissect each statement to better understand why option 1 is the correct answer.
Statement 1 says that there are 21 High Courts in India at present. This statement is correct because currently, there are indeed 21 High Courts functioning in India. High Courts are the highest judicial authority in each state or union territory of India.
Statement 2 states that the Kolkata, Mumbai, Chennai, and Allahabad High Courts were established in the year 1862. This statement is incorrect because only the High Courts of Kolkata, Mumbai, and Chennai were established in 1862. The Allahabad High Court, on the other hand, was established in 1866.
To summarize, option 1 is the correct answer because statement 1 is correct, but statement 2 is incorrect.