Option 1 -> The passage explicitly mentions that labourers "endured harsh working conditions and were subjected to exploitative practices" - this is correct.
Option 2 -> The passage states the system "perpetuated social and economic inequalities" and involved exploitation, directly contradicting the claim of economic stability and respectable social status - this is incorrect.
Option 3 -> The passage clearly states "labourers were brought from other parts of India, primarily from Bihar and Odisha" - this is correct.
Option 4 -> The passage confirms "The company was established by a group of entrepreneurs" - this is correct.
Hence, Option 2 -> The passage explicitly describes how the indentured labour system perpetuated social and economic inequalities with harsh conditions and exploitation, making this statement completely contradictory to what is presented in the text -> correct