Consider the following statements: 

  1. Companies use the Sweat Equity for retaining best employees
  2. The sweat equity issued during a year should not exceed 15% of the total paid-up capital of the company or a value of Rs 5 crore, whichever is higher. 
  3. To issue sweat equity above this level, the approval from the Central Government is required 

Which among the above statements is / are correct?

[A] 1 & 2
[B] 1 2 & 3
[C] 2 & 3
[D] 1 & 3

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