In relation to the guilds (Shreni) of ancient India, Option 1 states that every guild was registered with the central authority of the State and the king was the chief administrative authority on them. This is not accurate, as guilds were autonomous bodies not directly controlled by the king or the state.

Option 2 suggests that the wages, rules of work, standards, and prices were fixed by the guild. This is accurate, as guilds functioned as regulatory bodies for various occupational groups, setting rules and standards for their operation.

Option 3 provides that the guild had judicial powers over its own members. This is also accurate. Guilds did indeed possess judicial authority over their members. They could solve disputes between members and could impose penalties for disobedience of their rules.

Therefore, the correct answer is Option 3: "2 and 3 only." It identifies the roles of guilds in setting wages, work rules, standards, prices, and exercising judicial powers over their own members, ignoring the incorrect detail in Option 1 about state control over guilds.