Hi Venkat,
Seems like MD2 is primary one, MD1 is reference of MD2. if yes then you may be loaded data to MD2 properly and activate master data.
At info cube level if you added MD1, at transformations you may chose as read master data. Your MD1 object will be filled at cube level. once you do report you can access what you need.
What ever you have info object(think so - MD1 iobj) at cube level, need to be filled.
Thanks