Given below are two statements:
Statement I: Corals are an endangered marine species and protected under Schedule 1 of Wildlife Protection Act 1972.
Statement II: Rhizangiidae, Caryophylliidae are the names of coral families, were recently in news as the Maharashtra Government gave permission to translocate some coral families in order to build a coastal road to ease traffic congestion.
In the light of the above statements, choose the correct answer from the options given below.