Article 222 of the Constitution empowers the President to transfer a Judge from one High Court to any other High Court. Which of the following statements is correct?

Article 222(1), as it stands after the Constitution (Fifteenth Amendment) Act, 1963, provides that the President may, after consultation with the Chief Justice of India, transfer a Judge from one High Court to any other High Court within the territory of India. The original provision of 1950 contained no consultation requirement; the Fifteenth Amendment inserted it. Clause (2) entitles a transferred Judge to a compensatory allowance determined by Parliament. In the Second Judges case (1993), the Supreme Court held that for judicial appointments 'consultation' with the Chief Justice of India means 'concurrence'.