Explanation:

- Option 1: The NGT was indeed set up in the year 2010. This information is correct.

- Option 2: Its purpose is to ensure effective and expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources. This is an accurate description of the NGT's objectives.

- Option 3: It is bound by the procedure laid down under the Code of Civil Procedure. This is incorrect as the NGT is not bound by the procedural codes and instead follows a more flexible approach, prioritizing simplicity and speed.

- Option 4: It is guided by the principles of natural justice. This is true; the NGT uses principles of natural justice to inform its proceedings.

The incorrect statement is Option 3.