B.Com (Hons)

In the majority of universities, such as MLSU, the students are normally allowed to proceed to the following semester even with backlogs provided the number of subjects failed does not exceed a stipulated threshold. Since you have 2 backlogs against 5 subjects, it would be wise to determine MLSU's particular policy in relation to backlogs. Normally, students are allowed to clear backlogs by way of supplementary exams, and they can pursue studies simultaneously. Nevertheless, it's advisable to check with your department or academic advisor for clarity on promotion regulations and clearing backlogs.

The passing marks requirement can vary from colleges to college but ususually, students who have obtained a minimum of 40% marks in university exams, which means 28 marks out of 70 marks of theory examination and 50% in aggregate, which means total of university examination and continuous internal assessment marks in each subject. Then he/she shall be eligible for a pass or exemption in that subject.

It depends on university and colleges but mostly the common subjects in BCom hons are finance, economics, business law, taxation, trading, and management. But generally it entails 14 core topics, 4 discipline-specific electrives, and 4 general electives. 

Yes, you can do BCom Hons course without taking mathematics in your 12 grade. However, some universities may require mathematics as mandatory subject.