Hello Vinoth,
this is an example of an healthy link:
Mar 16 11:24:58.728: Serial0/0: HDLC myseq 534420, mineseen 534420*, yourseen 275120, line up
Mar 16 11:25:08.728: Serial0/0: HDLC myseq 534421, mineseen 534421*, yourseen 275121, line up
Mar 16 11:25:18.728: Serial0/0: HDLC myseq 534422, mineseen 534422*, yourseen 275122, line up
if you don't see the myseq incrementing your serial interface can be faulty.
Hope to help
Giuseppe