I have done a bit of tweaking. Initially I started a multichain node in an ubuntu machine (Let's call it server 1). Initiated few transactions on an asset and. Took the back up of the folder in server 1 and restored it in a separate ubuntu machine (let's call it server 2). Started the node in server 2 and tried to query data on an asset by calling listassettransactions.
listassettransactions is not returning transactional data.