Got the bike back, shes up and firing on all her cylinders, roaring like angry lion. Sounds much more raw and more linear now than how she was when I got her from factory.
Will post a detailed update after riding it for couple of days.
I finally found the root cause, spent some time with all the old parts and came to know the root casue
And can confirm it's not due to my poor oil maintenance(I can atleast sleep peacefully knowing this fact). The time timing chain or tensionor also was not the issue nor the piston/block failed.
What failed on the bike was the cam shaft rod. It cracked and failed metallurgically, it was weak probably and the T joint broke. Hence the cam slipped, timing went haphazard and the exhaust valve hit the piston. Could be manufacturing defect, bad metal hardening or metallurgical defect on the Exhaust cam shaft.
You can see the missing piece broken on the right side, no matter how hard the cam chain puts the twisting force on the cam, the joint should not crack this way!
How it should actually look






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