Thanks lot for the response.
Sorry for my ignorance. I am running the code on my local machine, and my machine culture is set to English(GB). I even included the culture script file to the project, but yet the date picker when displayed and when i select the date it uses the correct format, but the default validation run fails as it is run fro "mm/DD/YYYY" format seems to be using a wrong culture, i even verified the CultureInfo data from the server side and it seems to work fine.
Also If i select the date as 10/09/2016 and pass it to the server side, the dateTime contains the date as 09/10/2016.