Explanation:

All statements are correct.

• Derecognition refers to the withdrawal of recognition of a political party by the ECI.

• Such parties are simply declared as registered-unrecognized parties.

• The ECI has the power to derecognize a political party if it violates the provisions of the Indian Constitution or the Representation of the People Act, 1951.

Grounds for Derecognition of a Political Party as National party (as per ECI)

• If the party fails to secure at least 6% of the total votes polled in the general election to the LS or the legislative assembly of the state concerned, and if it fails to have at least 4 MPs elected in the last LS polls (also, it doesn't win 1 seat in the LS from the same state.).

• If it has won at least 2% of the total seats in the LS from at least 3 states.

• If it fails to secure 8% of the total valid votes polled in the state at a General Election to the LS from the state or to the State LA.

• If the party fails to submit its audited accounts to the ECI on time. 

• If the party fails to hold its organizational elections on time. 

Hence option 3rd is correct.