The correct answer is option 4. A candidate in a Lok Sabha or Vidhan Sabha election forfeits his security deposit when he fails to secure even 1/6 of the total votes polled. In India, during elections, candidates are required to deposit a certain amount of money as security. This deposit is meant to discourage frivolous candidates from contesting the election. If a candidate fails to receive a minimum percentage of votes, which is 1/6th of the total votes polled, they are deemed to have lost the election and their security deposit is forfeited. It is important for candidates to secure a considerable number of votes to avoid losing their deposit.