Hi All
The issue was resolved with below workaround:
1. Correct set of certificates were installed
2.Firewall rule was created between third party and PI
@Bhavesh: URL was correct , as the soap ui testing was done using the wsdl extracted from ID. NOw the wsdl actually refers to 2 xsds so when we imported wsdl in PI it did not referenced both and hence wsdl in PI seems to be incorrect.
But when testing again in SOAP ui with not wsdl from PI but exracted wsdl from url provided by third party was done it gave same certificate error which was rectified using correct certificates.
Now am working of making wsdl in correct format by including both the xsd in it in PI.
Thanks