Well, the element is identified properly by telerik but only during run time after we set the value and click on run, value was not identified by application and instead giving us notification to enter the value in field although its there (Strange !!!)
Also I am giving wait statement before and after setting the value in text field. I don't think that would cause any problem while setting value in field.
"SimulateRealTyping" option is also NOT helping. It's entering character by character of string value in text field but after run, notification again pops up asking us to enter the value in field.
Attached the screenshot for understanding scenario