CRM 2013 SDK Powershell Get-CrmConnection - PermissionDenied

Hi,

I am using CRM Online and trying to import package using powershell. During connection i am getting permission denied error.  

Below are error details

Get-CrmConnection : Failed to connect to CRM: The remote server returned an error: (504) Gateway Timeout.
At C:\Builds\2\CIBlank\CIBlank_1\src\xRMCIFramework_6.1.0.0\PowerShell\ConnectionValidate.ps1:50 char:30
+ "Office365" { $CRMConn = Get-CrmConnection -Credential $Cred -DeploymentRegi ...
+ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
+ CategoryInfo : PermissionDenied: (:) [Get-CrmConnection], Exception
+ FullyQualifiedErrorId : -3,Microsoft.Xrm.Tooling.CrmConnector.Powershell.Commands.GetCrmConnectionCommand

Any help greatly appreciated.