Which among the following statements are NOT true?

Evaluating each statement:Statement A: Share application account represents the applicants/investors, making it a personal account. (True)Statement B: Under the modern provisions of the Companies Act, 2013, directors are not strictly required to hold qualification shares unless mandated by the Articles of Association. Hence, a director does not mandatory have to be a shareholder. (Not True)Statement C: Paid-up capital is that part of called-up capital which is actually paid. It can never exceed called-up capital because a member cannot pay more than what has been requested, except as calls-in-advance which is shown separately and not part of called-up/paid-up capital totals. (Not True)Statement D: Capital reserves are explicitly created out of capital profits. (True)Since statements B and C are incorrect, they represent the "NOT true" statements.