2019 Polity - Indian Constitution, Article 142, Judicial Powers

With reference to the Constitution of India, prohibitions or limitations or provisions contained in ordinary laws cannot act as prohibitions or limitations on the constitutional powers under Article 142. It could mean which one of the following?

• The decisions taken by the Election Commission of India while discharging its duties cannot be challenged in any court of law.
• The Supreme Court of India is not constrained in the exercise of its powers by laws made by the Parliament.
• In the event of grave financial crisis in the country, the President of India can declare Financial Emergency without the counsel from the Cabinet.
• State Legislatures cannot make laws on certain matters without the concurrence of Union Legislature.