Failed to Generate Application Project in Vitis 2020.1 for Cortex M1 softcore processor on Arty A7 100T FPGA.

Hey, I am using Cortex M1 soft core processor on Arty A7 100T using Vivado 2020.1 and successfully generated bitstream for simple AXI-Uartlite project and exported hardware xsa file, but when i tried to create a Application Project for the same using xsa file in Vitis 2020.1 the platform is getting created but the basic c/c++ application project creation is giving error as "Failed to call GENERATE_APP". Below is the Vitis log file for that error.

Can someone help in debugging this error?

Thanks 

13:51:28 DEBUG : Registering SDKStatusHandler to handle trace exceptions.
13:51:28 DEBUG : Registered the core plugin as the backup plugin for storing repository paths.
13:51:28 INFO : Launching XSCT server: xsct.bat -n -interactive D:\FPGA_Projects\Workspace\temp_xsdb_launch_script.tcl
13:51:28 INFO : XSCT server has started successfully.
13:51:28 INFO : Registering command handlers for Vitis TCF services
13:51:29 INFO : plnx-install-location is set to ''
13:51:29 INFO : Successfully done setting XSCT server connection channel
13:51:29 INFO : Successfully done query RDI_DATADIR
13:51:29 INFO : Successfully done setting workspace for the tool.
13:51:29 INFO : Restoring global repository preferences:
C:\Users\vybha\Documents\AT472-BU-98000-r0p1-00rel0\vivado\Arm_sw_repository
13:51:31 INFO : Platform repository initialization has completed.
13:52:35 INFO : Result from executing command 'getProjects': Microblaze_uart_wrapper;arty_uart1_wrapper;arty_uart_wrapper;arty_uart_wrapper_1;arty_uart_wrapper_2;cortex_m1_uart_wrapper;design_1_wrapper;mblz_uart_gpio_wrapper;mblz_uart_gpio_wrapper_1;mblz_uart_gpio_wrapper_2;zynq_uart_wrapper
13:52:35 INFO : Result from executing command 'getPlatforms': Microblaze_uart_wrapper|D:/FPGA_Projects/Workspace/Microblaze_uart_wrapper/export/Microblaze_uart_wrapper/Microblaze_uart_wrapper.xpfm;arty_uart1_wrapper|D:/FPGA_Projects/Workspace/arty_uart1_wrapper/export/arty_uart1_wrapper/arty_uart1_wrapper.xpfm;arty_uart_wrapper_1|D:/FPGA_Projects/Workspace/arty_uart_wrapper_1/export/arty_uart_wrapper_1/arty_uart_wrapper_1.xpfm;arty_uart_wrapper_2|D:/FPGA_Projects/Workspace/arty_uart_wrapper_2/export/arty_uart_wrapper_2/arty_uart_wrapper_2.xpfm;arty_uart_wrapper|D:/FPGA_Projects/Workspace/arty_uart_wrapper/export/arty_uart_wrapper/arty_uart_wrapper.xpfm;design_1_wrapper|D:/FPGA_Projects/Workspace/design_1_wrapper/export/design_1_wrapper/design_1_wrapper.xpfm;mblz_uart_gpio_wrapper_1|D:/FPGA_Projects/Workspace/mblz_uart_gpio_wrapper_1/export/mblz_uart_gpio_wrapper_1/mblz_uart_gpio_wrapper_1.xpfm;mblz_uart_gpio_wrapper_2|D:/FPGA_Projects/Workspace/mblz_uart_gpio_wrapper_2/export/mblz_uart_gpio_wrapper_2/mblz_uart_gpio_wrapper_2.xpfm;mblz_uart_gpio_wrapper|D:/FPGA_Projects/Workspace/mblz_uart_gpio_wrapper/export/mblz_uart_gpio_wrapper/mblz_uart_gpio_wrapper.xpfm;zynq_uart_wrapper|D:/FPGA_Projects/Workspace/zynq_uart_wrapper/export/zynq_uart_wrapper/zynq_uart_wrapper.xpfm
13:52:35 INFO : Platform 'cortex_m1_uart_wrapper' is added to custom repositories.
13:52:36 ERROR : Failed to call GENERATE_APP
Reason: ERROR: [Common 17-39] 'hsi::generate_app' failed due to earlier errors.

13:52:36 ERROR :
java.lang.RuntimeException: Failed to call GENERATE_APP
Reason: ERROR: [Common 17-39] 'hsi::generate_app' failed due to earlier errors.

at com.xilinx.sdk.xsdb.XsdbCommandUtils.handleResult(XsdbCommandUtils.java:387)
at com.xilinx.sdk.xsdb.XsdbCommandUtils.executeAndRespond(XsdbCommandUtils.java:325)
at com.xilinx.sdx.sdk.core.gen.CTemplateGen.generate(CTemplateGen.java:105)
at com.xilinx.sdx.sdk.core.gen.CppTemplateGen.generate(CppTemplateGen.java:53)
at com.xilinx.sdx.sdk.core.gen.StandaloneProjectHandler.createCoreApp(StandaloneProjectHandler.java:93)
at com.xilinx.sdx.sdk.core.gen.AppCreationHandler.createApplication(AppCreationHandler.java:79)
at com.xilinx.sdx.sdk.core.gen.AppCreationHandler.execute(AppCreationHandler.java:69)
13:52:36 ERROR : Failed to create application project
org.eclipse.core.runtime.CoreException: Failed to call GENERATE_APP
Reason: ERROR: [Common 17-39] 'hsi::generate_app' failed due to earlier errors.

at com.xilinx.sdx.sdk.core.gen.StandaloneProjectHandler.createCoreApp(StandaloneProjectHandler.java:150)
at com.xilinx.sdx.sdk.core.gen.AppCreationHandler.createApplication(AppCreationHandler.java:79)
at com.xilinx.sdx.sdk.core.gen.AppCreationHandler.execute(AppCreationHandler.java:69)
at com.xilinx.sdx.sdk.core.SdkAppCreationHandler.executeInternal(SdkAppCreationHandler.java:75)
at com.xilinx.sdx.sdk.core.SdkAppCreationHandler.lambda$1(SdkAppCreationHandler.java:67)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2289)
at org.eclipse.core.internal.resources.Workspace.run(Workspace.java:2311)
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'
13:52:37 ERROR : An unexpected exception occurred in the module 'updating project references'