Thanks Jansi and Roman,
The issue was fixed by
chmod -R g+rX /usr/sap/<Managed_System_SID>/<Instance_ID>/work
chmod -R g+rX /usr/sap/<Managed_System_SID>/<Instance_ID>/j2ee/cluster
As per OSS Note 1848739 (Which points to note 1163751 )
Regards
Tariq