>
> with 'hwclock --set --date=<thistime>', then throw away the
> /etc/adjtime file.  Throw it away, as it might be the adjusting
> feature that thinks your clock is drifting a full hour per hour
> (that is: ticks away two hours in one).
>
Stupid me!!! Totally forgot to do the most important thing i.e. to thank you 
for the help. Thanks a lot for that great tip :-)

-- 
Regards,
Abhay