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Judgment
Heard Learned Counsel for the Appellants as well as Learned Counsel for the Respondent.
This Appeal has been filed against the order dated 21.12.2021 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi Bench, Court-III by which the Adjudicating Authority has directed that the Audi Q8 bearing Registration No. HR 26DE 6789 shall become the part of the liquidation estate and further direction was that Respondent (Appellant before us) to immediately handover the possession of the aforesaid assets to the Liquidator.
Learned Counsel appearing for the Appellants submits that the vehicle was not in a possession of Appellants, hence, direction to hand over a possession could not have been issued by the Adjudicating Authority.
Learned Counsel for the Respondent submits that now the vehicle has been traced out with the former Director and the Respondent is in process of taking possession.
In view of the aforesaid, we are of the view that as far as the part of the order of the Adjudicating Authority making the vehicle as an asset of the liquidation estate, no exception can be taken but the direction to hand over the possession has become infructuous since the vehicle has already been traced out and it is being taken possession by the Respondent.
The Appeal is disposed of accordingly.