Explanation:

• Statement 1 is incorrect: Basic Structure has nowhere been defined in the constitution of Indian. It is a Judicial Innovation in 1976 in Keshvanand Bharti case.
• Statement 2 is correct: Some of the features of the Constitution termed as "basic" are Supremacy of the Constitution, Rule of law, The principle of Separation of Powers, The objectives specified in the Preamble to the Constitution of India, Judicial Review and more on similar fronts.
• For eg: It is clear from the wordings of clause (3)(a) of Article 13 of the Constitution that it includes both the law made by legislature as well as those orders or notification which abridges or takes away any of the fundamental rights given in Part III of the Constitution would be void.

Note: Judicial Review is the power of Courts to pronounce upon the constitutionality of legislative and executive acts of the government which fall within their normal jurisdiction. Judicial review plays very important role as protector for safeguarding the rights of people.

Hence option 2nd is correct.