The correct answer is option 2, which states that statement 2 is correct. Let`s examine each statement to better understand them.

Statement 1: The Permanent Settlement was introduced in parts of the Madras and Bombay Presidencies.

This statement is incorrect. The Permanent Settlement, also known as the Cornwallis Code, was actually introduced in Bengal, Bihar, and Orissa, not in the Madras and Bombay Presidencies.

Statement 2: The Permanent Settlement created a new class of landlords with hereditary rights on land.

This statement is correct. The introduction of the Permanent Settlement in Bengal, Bihar, and Orissa established a fixed land revenue system. It created a new class of landlords, often referred to as zamindars, who were given hereditary rights over the land. They were responsible for collecting land revenue from the peasants.

Statement 3: The landlords created by the Permanent Settlement could never be removed under any circumstance.

This statement is incorrect. The landlords created by the Permanent Settlement could be removed under certain circumstances. For example, if they failed to pay the revenue due to the British government, their rights over the land could be taken away.

In conclusion, only statement 2 is correct.