The answer is: C
Explanation
The correct option is C: Both (a) and (b) are correct.
Let me explain why.
Option A is correct because under Section 7 of the Specific Relief Act, 1963, a person entitled to the possession of specific movable property may recover it in the manner provided by the Code of Civil Procedure, 1908. This means that the plaintiff can sue for the recovery of the specific movable property or, in the alternative, for compensation for its value. This is also supported by Section 21 (1) of the Act, which states that "A person entitled to the relief specified in clause (a) or clause (c) of sub-section (1) of section 10 may institute a suit for recovery of damages in addition to, or in substitution of, such relief".
Option B is correct because under Section 8 of the Specific Relief Act, 1963, a person who is in possession of a specific movable property not as owner but as a trustee or agent or bailee or otherwise, is liable to deliver it to the person entitled to its immediate possession. However, if pecuniary compensation is not an adequate relief to the plaintiff for the loss of the article and the relief prayed is for injunction restraining the defendant from disposing of the article or otherwise injuring or concealing it, or for return of the same, the court may grant such relief.
Therefore, option C is correct. Option D is incorrect because all are not incorrect. You can read more about Section 7 and Section 8 of the Specific Relief Act, 1963 here.