Hi MichalH
Thank You for your quick response.
I am using the same *.out file in both FreeMASTER's projects (*.out file is generated by IAR and I think it is equivalent to *.elf file).
I also checked the "List of all Valid symbol files", and they both are the same for both FreeMASTER Projects.
Both the files are attached at the bottom.
Apart from this, I am not using RS232/Serial and FreeMASTER drivers, I am using J-Link to plot this data on the oscilloscope view.
In the not working project at the startup, I get this error.

Here I clicked on the checkbox "Access the variables anyway at their last-known addresses"
My question is if we see the FreeMASTER Working project the value of the variable "electrode_usafa_0_baseline" is "nt_kernel_data.modules[0]->electrodes[0]->baseline"
And I put the same value in my custom FreeMASTER project, but it is not working.
Why FreeMASTER able to find the address in the project available with NXP SDK but not with my custom FreeMASTER project.
Is there something which I am missing.
Updated:
In the above update, I mentioned that when I opened the project (custom FreeMASTER project) I get the Missing Symbol Definition, which I didn't get in the FreeMASTER project which is working, I found the reason that this is warning is disabled with the FreeMASTER project provided with the NXP SDK, as shown below.
Left Side is Working Project (NXP SDK) and right side custom project.

And after checking this option, in the working project, I also get the same message in the project which is working, and even though it works fine.

I will keep this post updated.