BQ76200: What are the challenges connecting two batteries in series as shown below(attached file)

H Praveen,

No, this will not work - you would not want to have two sets of protection FETs like this. Please refer to this stacking reference design for a better starting place: https://www.ti.com/tool/TIDA-01093 

For this type of topology, it may be better to use a stackable monitor like the BQ79616-Q1.

Regards,

Matt