Mine was the Photoshop CC Enterprise edition and all the updates were disabled by my Admin by default. However, after getting the approval from my manager i have requested Adobe to help me out to fix this. There is one file/folder that needs to be deleted or atleast should not have anything in it to get the updates enabled. I can't name that file here i guess. But after disabling it / deleting it / renaming it to another name and restarting the photoshop, bang the updates are enabled and they are back.
Well, thanks to the Adobe Staff Member Ashutosh for helping me out on this.