Dear Deepak,
I am currently using one-wire (plus GND). In my schematics I use 0.1A PPTCs in BKGD and GND lines to avoid damage due to target short-circuits.
You must guarantee that when the unit powers up the BKGD is kept at 0V. I also suggest that you use a pull-up in the reset and BKGD lines.
If you need automatic pwr-up control, you could use the /RST n-msecs signal generated by Multilink (I assumed you are using ML) to set a flip-flop responsible for engaging the target power.
Good luck,
Celso
