So after scratching my heard for the most part of two hours, I found out the solution to my problem. The problem started happening after I had to restore the DB of my VMM 2012 R2 onto a new installation. I kept on getting Error 20552 when refreshing any server in VMM.
I finally resolved it by re-entering the password for the “run as account” for the VMM service in control panel.
PS: I had tried resetting the password inside VMM’s settings > Security > run as account > my host admin account. But that was not taking, throwing an error saying that the account was not found in the domain or something 🙁