A Judge of the Supreme Court of India or High Court of any State can be removed by the President of…

The correct choice is: “when an address is made by both the Houses of Parliament in the same session asking for his/her removal on the grounds of proven misbehaviour and incapacity”

Under Article 124(4) (applied to High Court judges by Article 217(1)(b)), a judge can be removed only by an order of the President passed after an address by each House of Parliament, supported by a majority of its total membership and by two-thirds of the members present and voting, has been presented to the President in the same session, on the ground of proved misbehaviour or incapacity. The Judges (Inquiry) Act, 1968 provides for an inquiry committee to investigate the charges first.

Neither a report of the Chief Justice of India nor the satisfaction of the President and Prime Minister is enough, and an enquiry alone (without the parliamentary address) cannot lead to removal.