Hi Guys,
Finally I succeeded after a brainstorming struggle for last couple of days and puffing up more cigarettes than I used to.
I found that all the previous CIF models which went wrong or no result but containing Plant and Shipping point was creating the wall between ECC and EWM to transfer them by CIF process.
Once I deleted all those models via CFM7 and started a fresh CIF with plant and shipping point... Bang... Location is created with PL and SP prefixes for the plant and shipping point respectively.
So the conclusion is - Get rid of old piles of CIF models and just to go for a fresh CIF
However thanks all for their time to look into my problem.
Amit