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Thanks Erica. I appreciate your thought on this. But I think, my question is still unanswered. Because answer box should come up with such content that contains answer to the users question or information that can help user to get answer out of it. But here, it is showing up a product page which does not even answer the users query although it is promoting someone's product in answer box...:-) Can we consider this as technical bug?

Both answers so far get to one of the points that I was going to make, always update redirects so that there is not a chain, but I wanted to add something else. You only need redirects as long as someone is linking to those pages. You should be taking time to fix any internal references to changed URLs and contacting websites that link to the old URLs and asking them to change the URLs. That should be a part of any site URL change. If you have only revised your URLs once, you only need redirects for 3-6 months while the search engines reindex everything. In that time, you should have changed all links to the old URLs. In your case, I'd drop all old redirects except for the last one and see what 404s you get. Find the referring site, and contact them to change the link to your site. Once that is all done, then you can work on this latest revision to change those links. Hope that helps!