Thanks Celvin for your Help, Issue is resolved now
surprisingly when we tried granting access to two new applications it succeeded without any issues. There was no changes to any of the scripts OR restart of the essbase services, the same bau script that was hung on monday completed in a minute today. At this point we feel that yesterday Essbase server connectivity with Loadbalancer LDAP server would have been the issue.
I guess this was a LDAP glitch on that perticular day.