Finally things started working now.
The problem was with the workstation NIC configuration.
The link speed on NIC was set to Auto Negotiate (Default) but the speed was detected as 100Mbps instead of 1Gbps and MTU was set to 9014 which I did set manually long back.
Things use to work in this configuration as I have configured Hosts with MTU 9000 and the cisco SMB switch does have Jumbo enabled by default.
the LinkSpeed of 100Mbps was bugging me, after changing it to 1Gbps (manual setting) the NIC got disabled, and this made me think of switch!!.
So I set the LinkSpeed to Auto Negotiate, MTU to 9014, shutdown both hosts, restart the switch. restarted the workstation.
Things were back to normal condition as it use to.
Even the console issue (Black Screen) is gone. :-)