Cash in hand

Yes. Both are acceptable. NEFT can be done from the director's account. But for accouting purposes ,this will be reckoned as the  date of contribution of capital.

As well the excess can be traeted as loan subject to Articles and other compnay law provisions.

without capital how compny can be created

Company cannot be created without capital.The promoters and directors name is mentioned as contributories  of capital in memorandum. It is due in books . 

In actual practice ,in the case above the amount will be recorded as received on the date of NEFT.

Otherwise , how can money flow from personal accounts of diretcors when capital had already been contributed.

Otherwise since compnay is separate entity, directors cannot NEFT Adhoc.

Otherwise cash can be deposited in company's name directly.