Sale of Car which is booked in Pvt. Company books but in RC book it is in the name of Director

A private limited company financed a car and claimed depreciation, but the RC book is in the director's name. The director now wants to sell the car. The discussion explores who is entitled to the sale proceeds – the company or the director – and the best practices under the Income Tax Act. The consensus is that the sale receipts belong to the company, and the sale should be recorded in the company's books.