SOLUTION 1
I managed to resolve my issues with a lot of googling but hey it's working. It may however not be the practical way of doing things but again it's working. After an entire week of troubleshooting I can live with the result until I learn netplan. Anyway, I am posting the steps I took to resolve the issue just in case someone else is scratching their heads trying to find an answer.
1. If you don't want to deal with netplan but wishes to go back to the all way of things you can simply disable it and enable interfaces.
2. Also, apparently Ubuntu 17.10 has a DNS issue.
First take care of the DNS issue because with netplan it seems to work but with interfaces it does not get updated properly.
sudo apt-get install resolvconf
Note:- This is not recommended and this is for advanced users only. Do keep in mind according to a netplan dev, you do not need to do the GRUB change for it to work. I did it just for my sanity sake and because I don't want to install and update and this whole thing gets messed up again.
Edit the /etc/default/grub file
sudo nano /etc/default/grub
Add the following line
GRUB_CMDLINE_LINUX="netcfg/do_not_use_netplan=true"
Save and exit the file
Now update the grub using the following command
sudo update-grub
You need to install ifupdown package
sudo apt install ifupdown
Now you can add all the interface details in /etc/network/interfaces file and reboot the ubuntu PC/server.
P.S if like me you actually enabled interfaces and when the machines comes back up it is experiencing DNS issue, you can follow the steps below to install the package manually.
Download the package and install
cd /tmp
Download resolvconf from us.archive.ubuntu.com. But since you don't have DNS you will not be able to use the DNS name. If you ping us.archive.ubuntu.com from another computer with working DNS it should return 91.189.91.26. Change the IP address if applicable.
wget http://91.189.91.26/ubuntu/pool/main/r/resolvconf/resolvconf_1.79ubuntu8_all.deb
Install & restart networking
dpkg -i resolvconf_1.78ubuntu4_all.deb
sudo service resolvconf start
sudo systemctl enable resolvconf
sudo /etc/init.d/networking restart