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tokens: ACKNOWLEDGEMENTS AKM would like to thank Council of Scientific and Industrial Research (CSIR) for financial support through research fellowship No. 524007. This research has made use of NASA’s Astrophysics Data System Bibliographic Services. We acknowledge the HPC@IISERM, used for some of the computations presented here. Authors thank Professor D Narasimha for useful discussions and comments. JSB thanks Professor Varun Sahni and Professor Sergei Shandarin for insightful discussions on singularities and caustics, and also for useful comments on the manuscript. Authors thank Richard Ellis, Prasenjit Saha and Liliya Williams for detailed comments on the manuscript. Authors also thank Ms Soniya Sharma who worked on some aspects of this problem for her MS thesis.