Indian Polity · Polity

With reference to Electoral Trusts in India, consider the following statements: I. They are constituted as non-profit companies under Section 8 of the Companies Act, 2013 for receiving and distributing voluntary contributions to political parties. II. They may accept contributions from foreign citizens and foreign entities, provided such contributors possess a valid Permanent Account Number (PAN). III. Under the Electoral Trusts Scheme, 2013, an electoral trust is required to distribute at least 95 per cent of the total contributions received during a financial year to eligible political parties. How many of the statements given above are correct?