Serverless TypeError: chalk(...).dim is not a function

I am trying to test the serverless lambda function using the command

Command

serverless invoke local -f send --log --stage test

Error

TypeError: chalk(...).dim is not a function

Entire stacktrace:

Type Error ---------------------------------------------

  TypeError: chalk(...).dim is not a function
      at /snapshot/serverless/lib/Serverless.js:83:47
      at /snapshot/serverless/node_modules/graceful-fs/graceful-fs.js:123:16
      at FSReqCallback.readFileAfterClose [as oncomplete] (internal/fs/read_file_context.js:61:3)
  From previous event:
      at Serverless.init (/snapshot/serverless/lib/Serverless.js:72:8)
      at /snapshot/serverless/bin/serverless.js:74:8
      at processImmediate (internal/timers.js:439:21)
      at process.topLevelDomainCallback (domain.js:130:23)
  From previous event:
      at Object.<anonymous> (/snapshot/serverless/bin/serverless.js:64:4)
      at Module._compile (pkg/prelude/bootstrap.js:1261:22)
      at Object.Module._extensions..js (internal/modules/cjs/loader.js:993:10)
      at Module.load (internal/modules/cjs/loader.js:813:32)
      at Function.Module._load (internal/modules/cjs/loader.js:725:14)
      at Function.Module.runMain (pkg/prelude/bootstrap.js:1316:12)
      at internal/main/run_main_module.js:17:11

  Get Support --------------------------------------------
     Docs:          docs.serverless.com
     Bugs:          github.com/serverless/serverless/issues
     Issues:        forum.serverless.com

  Your Environment Information ---------------------------
     Operating System:          darwin
     Node Version:              12.13.1
     Framework Version:         1.64.0 (standalone)
     Plugin Version:            3.4.0
     SDK Version:               2.3.0
     Components Core Version:   1.1.2
     Components CLI Version:    1.4.0

This command is run inside the directory which has serverless.yml, requirements.txt, handler.py.

Unable to understand why this error occurs and what's the solution