Error in Instant Run / Build APK after updating to Android Studio 3.6.1

[GSAInc20]

Solution was running well in android test device before updating android studio.

After updating android studio to 3.6.1

1. Instant Run is not working - app is not loading on test device
2. Build > Build APK is giving following error
   Build APK(s): Errors while building APK. You can find the errors in the 'Messages' view.