Explanation:

The phrase 'जो क्षमा पाने लायक हो' translates to 'one who deserves forgiveness' or 'pardonable'. The single word that precisely conveys this meaning is 'क्षम्य'. Option A ('क्षमापायी') means one who has received forgiveness. Option B ('क्षमाशील') means a person who is forgiving by nature. Option C ('क्षमाशाली') means one who possesses forgiveness or is forgiving. Only 'क्षम्य' directly refers to something or someone that is worthy of being forgiven.