I did figure out how to resolve this issue.
I ended up comparing the client and server trust certificates, byte-by-byte. Although there could be another way to resolve such issues of self-signed certificate, but for this solution did work. Here is how I'm doing comparison of the client and server certificates, byte-by-byte, using their CFData objects(you can also reference 'AdvancedURLConnections' example code provided by Apple):
Hope this will help someone, who is looking for solution of similar issue,