Problems have been fixed, Thanks to you all.
While installing veeam (physical server), the timezone in system was different. And customer changed it after few days to the correct time zone(Asia/Kolkata). So, when I found out this, I closed veeam console and made sure any veeam application is not opened and restarted veeam services. And time issues was solved. Now backup jobs run at correct time.
And this also solved the problem when I try to restore a database, where it gives "Connection timeout expired" error earlier.
(Not related to this but just wanted to share)
While trying to restore database using Instant recovery option to same machine, I was getting new errors like, "A connection was successfully established with server, but then an error occured during pre-login handsake". Then later found out the issue was with the user permissions(I am not sure but thats what I came to conclusion), So choose "Instant recovery to another server" option (but restoring to same server) and now I get to enter sql username and password and windows username and password which worked.
