Implementing TLS-SSL in android - javax.net.ssl.SSLHandshakeException: Handshake failed

I am trying to implement SSL with TLS v1.2 in android. The code I have written is as follows:

try {
     if (mSocket == null || !mSocket.isBound()
                            || mSocket.isClosed()) {
     KeyStore keyStore = KeyStore.getInstance("PKCS12");
     InputStream inputStream = mContext.getAssets().open("keystore.pfx");
     try {
          keyStore.load(inputStream, mContext.getString(R.string.pw).toCharArray());
          } catch (CertificateException e) {
            e.printStackTrace();
          } catch (NoSuchAlgorithmException e) {
          e.printStackTrace();
          } finally {
                     if (inputStream != null) {
                     inputStream.close();
                     }
          }


          KeyStore trustStore = KeyStore.getInstance("PKCS12");
          InputStream inputStreamts = mContext.getAssets().open("truststore.pfx");
          try {
               trustStore.load(inputStreamts, mContext.getString(R.string.ts_pw).toCharArray());
              } catch (CertificateException e) {
              e.printStackTrace();
              } catch (NoSuchAlgorithmException e) {
              e.printStackTrace();
              } finally {
              if (inputStreamts != null) {
              inputStreamts.close();
              }
              }

           TrustManagerFactory tmf = TrustManagerFactory
                                .getInstance(TrustManagerFactory.getDefaultAlgorithm());
           tmf.init(trustStore);
           KeyManagerFactory kmf = KeyManagerFactory.getInstance(KeyManagerFactory.getDefaultAlgorithm());
           kmf.init(keyStore, mContext.getString(R.string.pw).toCharArray());
           SSLContext sslContext = SSLContext.getInstance("TLSv1.2");
           sslContext.init(kmf.getKeyManagers(), tmf.getTrustManagers(), null);
           SSLSocketFactory factory = (SSLSocketFactory) SSLSocketFactory.getDefault();
           mSocket = (SSLSocket) factory.createSocket(businessIp, businessPort);
           mSocket.setEnabledProtocols(new String[]{"TLSv1.2"});
                 mSocket.setEnabledCipherSuites(sslContext.getServerSocketFactory().getSupportedCipherSuites());
          }
          mSocket.setUseClientMode(true);

          StringBuilder inputLineBuilder = new StringBuilder();
          if (mSocket != null) {
          try {
               //printSocketInfo(mSocket);
               mSocket.startHandshake();
               OutputStream os = mSocket.getOutputStream();
               os.write(f_RequestData);
               PrintWriter out = new PrintWriter(
                                    new BufferedWriter(
                                            new OutputStreamWriter(os)));

               out.flush();
               if (out.checkError())
               System.out.println("SSLSocketClient:  java.io.PrintWriter error");    
               BufferedReader in = new BufferedReader(
                                    new InputStreamReader(
                                            mSocket.getInputStream()));
               String response;
               while ((response = in.readLine()) != null)
                     inputLineBuilder.append(response);
               in.close();
               out.close();
               mSocket.close();
               m_Response = inputLineBuilder.toString();
            }catch(Exception e){e.printstacktrace();}
            }
                } catch (UnknownHostException e) {
                    e.printstacktrace();
                } catch (SocketTimeoutException e) {
                    e.printStackTrace();
                } catch (SocketException e) {
                    e.printStackTrace();
                } catch (IOException e) {
                    e.printStackTrace();
                } catch (UnrecoverableKeyException e) {
                    e.printStackTrace();
                } catch (NoSuchAlgorithmException e) {
                    e.printStackTrace();
                } catch (KeyStoreException e) {
                    e.printStackTrace();
                } catch (KeyManagementException e) {
                    e.printStackTrace();
                }
            }

Socket is created successfully, but when mSocket.startHandshake() is executed I am getting following exception:

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: javax.net.ssl.SSLHandshakeException: Handshake failed

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: at com.android.org.conscrypt.ConscryptFileDescriptorSocket.startHandshake(ConscryptFileDescriptorSocket.java:276)

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: at com.example.networkmanager.ConnectionManager$1.run(ConnectionManager.java:135)

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: at java.lang.Thread.run(Thread.java:764)

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: Caused by: javax.net.ssl.SSLProtocolException: SSL handshake aborted: ssl=0x724c726080: Failure in SSL library, usually a protocol error

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: error:10000410:SSL routines:OPENSSL_internal:SSLV3_ALERT_HANDSHAKE_FAILURE (external/boringssl/src/ssl/tls_record.cc:579 0x7242eb8540:0x00000001)

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: error:1000009a:SSL routines:OPENSSL_internal:HANDSHAKE_FAILURE_ON_CLIENT_HELLO (external/boringssl/src/ssl/handshake_client.cc:893 0x724ebf70d7:0x00000000)

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: at com.android.org.conscrypt.NativeCrypto.SSL_do_handshake(Native Method)

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: at com.android.org.conscrypt.SslWrapper.doHandshake(SslWrapper.java:374)

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: at com.android.org.conscrypt.ConscryptFileDescriptorSocket.startHandshake(ConscryptFileDescriptorSocket.java:217)

2019-01-25 16:56:37.627 4905-4991/com.example W/System.err: ... 2 more

When tried to print socket information. Following info I am able to see:

 Need client authentication = false
 Cipher suite = SSL_NULL_WITH_NULL_NULL
 Protocol = NONE
 Peer Host = null
 Peer Port = -1
 Is Valid = false

Along with following exception when tried to get peer principle:

javax.net.ssl.SSLPeerUnverifiedException: No peer certificate at com.android.org.conscrypt.SSLNullSession.getPeerPrincipal(SSLNullSession.java:122) at com.neml.direct.qr.networkmanager.ConnectionManager.printSocketInfo(ConnectionManager.java:246) at com.neml.direct.qr.networkmanager.ConnectionManager$1.run(ConnectionManager.java:134) at java.lang.Thread.run(Thread.java:764)

I have searched this problem with several stackoverflow posts and blogs. following things I have already checked:

1. KeyStore & TrustStore is loaded properly and is not null.
2. Checked order of certificate chain. It is proper.

I am not able to understand, what I am missing, what else needs to be done to start handshake successfully. Please help. Any help will be appreciated.