- Statement (1): The Constitution of India establishes a parliamentary system where sovereignty rests with the people, and Parliament and State Legislatures derive their powers from the Constitution. They are not sovereign in the absolute sense, as their powers are limited by the Constitution, and judicial review acts as a check. - Statement (2): The Supreme Court of India, as the apex judicial body, has the power of judicial review. This means it can declare any law passed by the Parliament or State Legislature unconstitutional if it violates any provision of the Constitution, particularly the fundamental rights.