AEM Upload Asset -- NOT working || Error 400

Hello Everyone, 

I am unable to upload an asset to AEM via Fusion. 
Its a very basic Fusion scenario that downloads an image from a HTTP URL that is then used later to create an asset on AEM. 

I already checked that the user has been granted with "DAM Users & Content Authors" access. 

The Issue as on Dev tools is as below
Invalid recursion selector value 400 .. when trying to invoke the initiateupload.json

Please let me know how to overcome this issue

Thanks