The correct statement about the Ilbert Bill is option 1: It proposed that Indian magistrates would try Europeans in criminal cases.

Option 1 suggests that under the Ilbert Bill, Indian magistrates would have the authority to preside over criminal cases involving Europeans. This bill aimed to address the discriminatory practice of allowing only European magistrates to try cases involving Europeans, while Indians could only try cases involving Indians. The Ilbert Bill sought to remove this imbalance by allowing Indian magistrates to also try European defendants.

Option 2, stating that the bill allowed Indians to file criminal cases against Europeans, is incorrect. The Ilbert Bill focused on the jurisdiction of Indian magistrates, not the filing of cases by Indians.

Option 3, suggesting that the bill authorized Indian ICS officers to try Europeans in courts, is incorrect. The Ilbert Bill did not specifically mention the Indian Civil Services (ICS).

Option 4, claiming that the bill was an agitation led by Ilbert in support of nationalists, is also incorrect. The Ilbert Bill was a legislative proposal, not a movement or agitation led by an individual.