Hi Shubhnnam,
I didnot find the exact cause; but I feel its an issue with SAP BASIS .I had manually imported the BASIS content required for my scenario which were missing (After the import,resolved the conflicts too.But,it didnot work).
Later I reserved a VM from a different VM pool where all the required BASIS objects were already there and the scenario ran fine.
Are you able to view the message from sender channel.? In my case,when it was failing, I was not able to.
Regards,
Logesh