Hi Chandu,
which version of wM/TN are you using?
Are there any Fixes applied to IS/TN and/or MWS?
Can you share the setting under My webMethods → System Settings → TN Servers, for verification?
Check, if these match with the Port Definitions in IS Admin under Security Ports.
For me, this looks like you are trying to connect to an HTTP Port on IS, but you have configured MWS to use an HTTPS-Connection for this.
Regards,
Holger