The 10-12 seconds I mentioned are very loose, something that I counted on my fingers to estimate the boot time.
As I mentioned in the post, the step where the “Splash Screen” appears, is what takes most of the time. I have disabled Splash Screen via settings, but that “step” wherein I have to wait for 10 seconds persists.
The boot process goes something like this; button is pressed, after 3 seconds GRUB shows up, I choose EOS, I have to wait 3-4 seconds, then the login screen asks for the password, I enter the password (exclude the time here), after this I see a black screen for exactly 10 seconds, after this I see my wallpaper and the cursor nothing else, the system takes around 5 seconds to load everything, after this, I am able to use it.
In case of the Shutdown; I click the button, everything vanishes, just my wallpaper and cursor for 10 seconds, and then the system boots off.
Will use inxi -Faz next time. My apologies.