• This issue has been fixed . It was related to version of SQL server connectivity tools installed in the box .

    1. I tried changing the version manually in XML code , to 6 and 7 . It didn't worked .

    2. Tried changing the protection level for encryption, no luck .

    3. All the environment where it was working fine , has SQL 2014 installed .

    Solution : Installed SQL 2014 Client connectivity tool and Management connectivity tools in local machine . After that I was able to open the package with out any error or warnings mgs .