Hi @Kaarthi
Is this the first time that you are debugging this chip?
Try the GUI flash tool. You can perform an erase, and if the part was locked , you can unlock it.

On a similar fashion you can Try a quick recovery with the J-Link commander. Connect to the MKE16Z64 option (with allow security), select the SWD interface, then write unlock Kinetis and erase commands.
Also, If I am not mistaken, your part has a ROM bootloader. You could set the part into ROM bootloader, while the ROM bootloader execute, try a simple mass erase from the MCUXpresso IDE.
Let me know your results.
Diego.