Hi Parvees,
Does the machine (AC client) have the correct certificates? Please use the "MMC" tool (Windows start menu, run command, mmc, File -> Add/remove snap-in->Certificates->My user account) to verify this.
In case you don't the see the right information (root and identity certificates), please delete whatever it has received from the ASA through the AnyConnect client and use the Web form instead:
https://hostname/+CSCOCA+/enroll.html
Also, please use the following commands in order gather further information (during a connection attempt):
debug crypto ca 255
debug crypto ca mess 255
debug crypto ca transactions 255
I hope to hear back from you.
Thanks for posting on CSC.