It may sound weird but the root cause was, Windows Server had not been activated properly in my case; though I could see "Windows is activated", it wasn't actually. You would likely to get this error when Servers were activated through KMS. Here is the fix which worked for me and hopefully that would work in your case as well !
pkgmgr /iu:"TelnetClient"
Once you execute above commands, you should see Telnet Client installed on the server ! Hope that helps.
Ed Price - MSFT edited Revision 7. Comment: Title casing
Santosh Bhandarkar edited Revision 3. Comment: Tags Update
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Thanks !
Excellent!!! Thanks very much for your help!!!
Thanks a lot!! It works!