Hey, apologies for the above request, I gave one final try.
I tried to flash the eMMC with a beaglboneblack image from the sd card so it will overwrite existing emmc (assuming something is wrong with the emmc) and it worked as beaglebone black. and then flashed the latest bela image to the sd card and pressed the S2(Boot button) at the startup, and it finally worked.
I also flashed bela image to the BBB eMMC now just incase.
Sorry for the chaos, thanks a lot for your amazing support.
regards,
Harsha