Which statements are correct-

(A) A company's shares are generally transferable.

(B) Shareholders of a company are liable for the acts of the company.

(C) The director of a company must be a shareholder.

(D) Paid up capital can exceed called up capital.

Choose the correct answer from the options given below:

Let me evaluate each statement:

(A) A company's shares are generally transferable - CORRECT

Free transferability of shares is a fundamental characteristic of a company. Shares can be transferred from one person to another (subject to Articles of Association provisions).

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(B) Shareholders of a company are liable for the acts of the company - INCORRECT

A company has a separate legal entity distinct from its shareholders. Shareholders have limited liability - they are liable only to the extent of unpaid amount on their shares, not for the company's acts or debts.

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(C) The director of a company must be a shareholder - INCORRECT

Under the Companies Act, 2013, there is no requirement for a director to be a shareholder. The concept of "qualification shares" has been abolished.

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(D) Paid up capital can exceed called up capital - INCORRECT

Paid up capital represents the amount actually received from shareholders against calls made. It can never exceed called up capital.

The relationship is: Called up Capital ≥ Paid up Capital

Called up capital is the total amount demanded from shareholders, while paid up capital is what has been received. You cannot receive more than what was demanded.

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Only statement (A) is correct, but none of the given options present this as the answer. Hence, the question should be dropped as none of the options are accurate.