Explanation:

Recently, the Supreme Court and High Court judges stated that a committee constituted by the Union Ministry of Home Affairs to introduce reforms in criminal law lacks diversity and it needs to ensure transparency.

• The Ministry of Home Affairs (MHA) has constituted a national level committee for reform in criminal law.
• Composition: It is a five-member Committee headed by National Law University Vice-Chancellor Dr Ranbir Singh with leading lawyer Mahesh Jethmalani among others as its members to undertake a review of criminal laws.
• Functions: The committee will look into the introduction of new forms of punishments including principles of restorative justice and applying the revised punishment framework to the offences, reviewing the amounts of fine, identifying offences requiring an addition to the IPC and identifying redundant offences. Hence option 4th is correct.