Mahindra Two Wheelers — not able to stop the anti theft alarm

Address: 560043

I bought my vehicle Mahindra Centuro in 2014 at Bangalore. Its working great all these years, thanks to Mahindra for a great bike...!

However recently I am facing this problem. At times (now this problem has increased), when I insert the Key into the Ignition and turn-it to On position, the Anti Theft alaram goes on, and doesn't stop, and I can't start my vehicle. I keep turning the key to off position and then back to on, several times, trying various things, then suddenly the Alaram stops and it works normally.

What's the problem? How can I rectify it? is there any standard procedure to stop the Alaram when it sounds? (like pressing certain buttons on the Key in a specific format).