Explanation:

• The Juvenile Justice Board is an institutional body constituted under Section 4 of the JJ Act, 2015.
• The JJB consists of judicial magistrate of the first class and two social workers, at least one of whom should be a woman. JJB are meant to resolve cases within a four month period. Most circumstances the juvenile can be released on bail by the JJB.

Hence only statement 1st is correct.