A fault recovery system, comprising: a first fault management circuit that is coupled with a first functional circuit, and configured to detect a first fault in the first functional circuit and execute a first recovery operation to recover the first functional circuit from the first fault; and a second fault management circuit that is coupled with the first fault management circuit, and configured to execute, based on a failure of the first fault management circuit to execute the first recovery operation within a first predetermined time duration, a second recovery operation to recover the first functional circuit from the first fault; wherein the second fault management circuit executes the second recovery operation based on a first timestamp value that is equal to the first predetermined time duration; and the first fault management circuit comprises: a first timer that is configured to generate a first timer count; and a first processing circuit that is coupled with the first timer and the first functional circuit, and configured to detect the first fault in the first functional circuit, and generate and provide a first control signal to the first timer to activate the first timer, wherein while the first timer is activated, the first processing circuit is further configured to execute the first recovery operation, wherein when the first timer count is equal to a first threshold value, the first timer is further configured to generate a first time-out signal, wherein equality of the first timer count and the first threshold value is indicative of the failure of the first fault management circuit to execute the first recovery operation within the first predetermined time duration, and wherein the first processing circuit is further configured to receive the first time-out signal from the first timer, and generate and provide a second control signal to the first timer to deactivate the first timer; and the first processing circuit is further coupled with the second fault management circuit, and configured to generate and provide, when the first time-out signal is received, the first timestamp value to the second fault management circuit. a first fault management circuit that is coupled with a first functional circuit, and configured to detect a first fault in the first functional circuit and execute a first recovery operation to recover the first functional circuit from the first fault; and a second fault management circuit that is coupled with the first fault management circuit, and configured to execute, based on a failure of the first fault management circuit to execute the first recovery operation within a first predetermined time duration, a second recovery operation to recover the first functional circuit from the first fault; wherein the second fault management circuit executes the second recovery operation based on a first timestamp value that is equal to the first predetermined time duration; and the first fault management circuit comprises: a first timer that is configured to generate a first timer count; and a first processing circuit that is coupled with the first timer and the first functional circuit, and configured to detect the first fault in the first functional circuit, and generate and provide a first control signal to the first timer to activate the first timer, wherein while the first timer is activated, the first processing circuit is further configured to execute the first recovery operation, wherein when the first timer count is equal to a first threshold value, the first timer is further configured to generate a first time-out signal, wherein equality of the first timer count and the first threshold value is indicative of the failure of the first fault management circuit to execute the first recovery operation within the first predetermined time duration, and wherein the first processing circuit is further configured to receive the first time-out signal from the first timer, and generate and provide a second control signal to the first timer to deactivate the first timer; and the first processing circuit is further coupled with the second fault management circuit, and configured to generate and provide, when the first time-out signal is received, the first timestamp value to the second fault management circuit. a first timer that is configured to generate a first timer count; and a first processing circuit that is coupled with the first timer and the first functional circuit, and configured to detect the first fault in the first functional circuit, and generate and provide a first control signal to the first timer to activate the first timer, wherein while the first timer is activated, the first processing circuit is further configured to execute the first recovery operation, wherein when the first timer count is equal to a first threshold value, the first timer is further configured to generate a first time-out signal, wherein equality of the first timer count and the first threshold value is indicative of the failure of the first fault management circuit to execute the first recovery operation within the first predetermined time duration, and wherein the first processing circuit is further configured to receive the first time-out signal from the first timer, and generate and provide a second control signal to the first timer to deactivate the first timer; and the first processing circuit is further coupled with the second fault management circuit, and configured to generate and provide, when the first time-out signal is received, the first timestamp value to the second fault management circuit.