SVN Client Error - SSL handshake failed: Secure connection truncated (url)

Encountered this annoying error all of a sudden when tried to update files from svn using Tortoise SVN client: SSL handshake failed: Secure connection truncated (url).

The failed handshake happens without logging anything. Spent some time verifying if my certificate expired or corrupted but certificate store was intact with same password. I imported the same certificate and exported back as file to test and it worked fine. File was also not corrupt if otherwise would have threw error when imported back and exported.

Followed below steps vigorously that made no difference theoretically.

1. Opened servers file from C:\Users\myname\AppData\Roaming\Subversion directory

2. Checked the certificate for expiry date and it was due after three months

4. Imported it back into the IE

5. Exported it (pfx format) in a new name with new password

6. Cleared the cache by clicking from Tortise console.

7. Commented out old ssl-client-cert-file and ssl-client-cert-password from servers file

9. Restarted the explorer before running svn operation

8. Ran svn operation to see the prompt for the certificate and password which I duly entered the new ones that I just created

Got same error even after above steps.

Next thing came to mind was to check proxy server and port. Alas! It all worked only when I commented out the proxy details from servers file. The lines with http-proxy-host and http-proxy-port details were commented and when I tested it restarting the explorer I could see files updating from svn.

Strangely, same proxy details worked when tried in IE and Chrome browser without any hassles. Though, I could not pin point on the cause of the error, issue got resolved with this one step.