Hi Brian,
Thanks for your response.
I would like to add to your answer if webfarm server is healthy and we are using media library API it will generate webfarm task automatically which will synchronize both MVC and Admin.
I was executing the code from MVC site. Finally I am able to get the root cause, the directory path was containing \\ in path. I have corrected the folder path and its working fine now.
Thanks,
Lokendra