Correct Option
The statement indicates that the Supreme Court of India is not constrained in the exercise of its powers by ordinary laws enacted by the Parliament. Article 142 of the Constitution grants the Supreme Court the power to pass any decree or order necessary for doing "complete justice" in any cause or matter pending before it. This power allows the Court to act beyond existing statutory provisions or even in their absence, to ensure equity and justice. The principle implies that ordinary legislative enactments cannot limit the constitutional mandate of the Supreme Court to deliver complete justice, thereby upholding the supremacy of constitutional powers in exceptional circumstances.
Incorrect Options
Option (1): Decisions taken by the Election Commission of India, while independent in their functioning, are subject to judicial review by the High Courts and the Supreme Court. This is a fundamental aspect of the Indian judicial system, ensuring accountability and adherence to constitutional principles, and is not related to Article 142.
Option (3): The President of India can declare a Financial Emergency under Article 360 only on the written recommendation of the Union Cabinet. The President's powers, particularly concerning emergency provisions, are exercised based on the aid and advice of the Council of Ministers, as stipulated by Article 74. This constitutional provision is distinct from Article 142.
Option (4): The ability of State Legislatures to make laws on certain matters, sometimes requiring the concurrence of the Union Legislature, pertains to the distribution of legislative powers between the Union and States. This is primarily governed by Article 246 (Seventh Schedule lists) and Article 254 (in case of inconsistency between Union and State laws on Concurrent List), and is unrelated to the Supreme Court's powers under Article 142.