Thanks RamKumar.
Yes, I have tried already copying the existing channel to new channel and used in scenario, it work fine. Then I deleted the newly crated and started using old one and the same issue persists.
eventhough the Cache is refreshed when we make changes to ID objects, i still manually going into Environment->Cache Status Overview and refreshing all components.
Still, the channel is using OLD parameters and not picking up the file.
The Scenario is existing one and I don't want to copy the CC and delete the OLD one.
Aswin