Spice client / virt-manager is Unable to connect to the graphical console of a VM

Issue

• Through virt-manager, Virtual Machine console is not opening.
  Initially it shows "Connecting to graphical console for guest" message for sometime and then get aborted with error "Unable to connect to the graphic server 127.0.0.1:5900"
• remote-viewer shows a blank screen while accessing console of RHEV guests .
• spice console shows black screen with the message "Connected to graphic server" , but does not show guest console & client process has to be killed to close this window.
• Linux based client is not able to access spice console after upgrade / installing glib-networking.