Statement 2 is correct. The Bar Council of India (BCI), under Section 7 of the Advocates Act, 1961, is vested with the power to prescribe standards of legal education and to grant recognition to universities and law colleges that meet these standards. This regulatory authority extends to aspects such as curriculum, infrastructure requirements, duration of courses, and minimum eligibility criteria for admission.
Statement 1 is incorrect. Under the Advocates Act, 1961, an 'advocate' is defined as an individual who is enrolled with a State Bar Council and holds a law degree. While government law officers (e.g., Attorney General, Solicitor General) can be recognised as advocates if they are individually enrolled, legal firms are not recognised as advocates. Similarly, corporate lawyers and patent attorneys are recognised as advocates only if they are individually enrolled with a State Bar Council. The statement's assertion that legal firms are recognised as advocates is therefore inaccurate.
Option (a) is incorrect because Statement 1 is false.
Option (c) is incorrect as it includes the false Statement 1.
Option (d) is incorrect because Statement 2 is true.