Consider the following statements regarding the Permanent Settlement introduced under Cornwallis:
- The land revenue demand of the East India Company from zamindars was permanently fixed.
- Zamindars were recognised as proprietors of the land subject to payment of revenue.
- Failure to pay the stipulated revenue could result in the sale of the zamindar's estate.
- The settlement was initially introduced throughout British India.
Which of the statements given above are correct?