Step 1: Identify the plant Arachis.
Arachis is commonly known as groundnut or peanut.
It belongs to the family Fabaceae or Leguminosae.
Since it belongs to Fabaceae, it shows many characteristic features of this family such as papilionaceous corolla and monadelphous stamens.
Step 2: Check statement I.
The fruit of Arachis is a legume-like pod.
However, in groundnut, the mature fruit generally does not split open naturally.
Such a fruit is called an indehiscent fruit.
Therefore,
\[
\text{Statement I is correct.}
\]
Step 3: Check statement II.
In many members of Fabaceae, stamens are united into one bundle or two bundles.
In Arachis, stamens show monadelphous condition, where staminal filaments are united.
Therefore,
\[
\text{Statement II is correct.}
\]
Step 4: Check statement III.
Arachis seeds are non-endospermic.
This means the endosperm is consumed during seed development and food is stored mainly in cotyledons.
Therefore,
\[
\text{Statement III is correct.}
\]
Step 5: Check statement IV.
Arachis shows geocarpy.
In geocarpy, after fertilization, the developing fruit is pushed into the soil where it matures.
This is a very important characteristic of groundnut.
Therefore,
\[
\text{Statement IV is correct.}
\]
Step 6: Check statement V.
Statement V says that Arachis has dehiscent fruit.
This is incorrect because its fruit is indehiscent.
So, statement V is not correct.
Step 7: Final conclusion.
Thus, the correct statements are
\[
\text{I, II, III and IV}
\]
Hence, the correct answer is
\[
\boxed{\text{I, II, III, IV}}
\]