It is not the right answer but after spending some odd 11 hours found the following solution -
- Downgraded the host OS from Ubuntu 20.04 to Ubuntu 18.04.4 LTS.
As per my limited knowledge working inside docker container should not get impacted even though the HOST OS are different. But at the same time I feel HOST to Container communication has changed in Ubuntu 20.04.
Because when I tried connecting MS SQL Server also in Ubuntu 20.04 as HOST my previous setup stopped working as it was working with Ubuntu 18.04.
So can't really comment whether it is a docker daemon issue or container issue. But something has changed.
Please keep posting your findings so that we can have a working solution in Ubuntu 20.04 as HOST.