Hi Mohan,
I understand that you already posted your question on StackOverflow[1] unfortunately as this question would require an in depth analysis of your implementation we won’t be able to answer your question here.
However if you think you are experiencing a bug with the Cloud Asset API I would suggest you to file a bug [2] so we can confirm this.
If that is not the case, then StackOverflow is the right channel as Google Groups is intended for general discussion. You should try to post extra log information to have the developer community assist you.