Hi, Mahesh.
My HCP host is s6hanaxs. Because I'm still facing some issues with autologon into WebIDE, but there was an info about a fix of this issue, I apologize that issues may be host-dependent. So maybe your issue is really local for your account and/or host. As I see, a lot of people use the same host as yours, so if it's host-related, someone would write here but he didn't.
The only way I can offer is to create this part of your application incrementally from scratch inside another package and test if it works. Then move tested part to your current app or extend that new till current. Try to create your entity via POST to OData service (with curl or some other program).
Another way is to create new account and import your app to that one, but I think the result will be the same as a new app in another package.
I realize your situation, it's really sad, but I don't know what else to do.
Regards,
Andrey.