Statement (I) is correct: Article 14 of the Constitution of India guarantees equality before the law and equal protection of the laws. The guiding principle behind this is that persons similarly situated should be treated alike. This means that if individuals are in the same circumstances, they should receive the same treatment in terms of rights and obligations. Statement (II) is incorrect: Article 14 forbids class legislation, which means that laws cannot be made arbitrarily singling out a class of people for special treatment or burden. However, it does not forbid reasonable classification. Reasonable classification is permissible under Article 14, provided that it is based on intelligible differentia and that the classification has a rational nexus with the object sought to be achieved. Therefore, Article 14 forbids class legislation but permits reasonable classification.