Thanks a Lot Sir

Adding

karate.configure('ssl', { trustAll: true });

in karate-config.js file helped to resolve the issue.

Earlier the Numeric IP and IP with any Number like https://K3.myapp.bmt.com:8443 or https://12.55.214.256:778 were not working.

It was clearly an issue with the SSL and I was getting the following error

ERROR com.intuit.karate - javax.net.ssl.SSLPeerUnverifiedException: Certificate for https://K3.myapp.bmt.com:8443

Now this issue is resolved and the scripts are working fine.

Thanks a Ton Again