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What are the requirements for registering a political party with the Election Commission of India? What are the benefits enjoyed by Registered Unrecognised Political Parties? Does the Election Commission have explicit power to de-register a political party?

​What are the requirements for registering a political party with the Election Commission of India? What are the benefits enjoyed by Registered Unrecognised Political Parties? Does the Election Commission have explicit power to de-register a political party?