Hi Balaji,
Thank you for your reply!
Yes, reboot was performed a couple of times. Please note that individual interfaces are not coming up either (eth1/2 and eth1/2 are not part of any port-channel).
The same happens with Management1/1 interface. As per Cisco documentation Management 1/1 is shared by both FXOS and ASA, and each operating system have a separate ip add for mgmt access. Both are configured in the same subnet, however I can only access the FXOS mgmt ip.
It feels something is failing in the backplane between the FXOS and the ASA.