The correct matching is:
- (A) Fandry is directed by Nagraj Manjule (III).
- (B) Kaala is directed by Pa Ranjit (I).
- (C) Karnan is directed by Mari Selvaraj (IV).
- (D) Jai Bhim is directed by TJ Gnanavel (II).
Thus, the correct answer is (A)-(III), (B)-(I), (C)-(IV), (D)-(II).