The correct answer is option 3: "Cloud Burst occurs only in hilly areas." This statement is not correct. While it is true that Cloud Bursts can occur in hilly areas, they are not exclusively limited to these areas. Cloud Bursts can occur in any location where the atmospheric conditions are conducive to the formation of cumulonimbus clouds.

Option 1 states that Cloud Burst is a localized weather phenomenon representing highly concentrated rainfall over a small area in a short duration of time. This is correct. Cloud Bursts are characterized by intense and heavy rainfall over a small area within a short period of time.

Option 2 states that Cloud Burst occurs due to the upward movement of moisture-laden air with sufficient rapidity to form cumulonimbus clouds. This is also correct. Cumulonimbus clouds are tall, dense clouds that are associated with thunderstorms and heavy precipitation.

Option 4 states that there is no satisfactory technique for predicting Cloud Burst. Although the prediction of Cloud Bursts can be challenging, advances in meteorological technology and modeling have improved the ability to forecast and anticipate these events to some extent. However, it is important to note that accurate and timely predictions of Cloud Bursts still remain a challenge in many cases.

In summary, option 3