How cold does it get where you are, Pratik? How warm are the days, usually?
Often a 20cm. thick layer of leaves and/or cut grass (hay or straw work too) over the root area is enough to keep a papaya happy, but if there is a hard frost or a freeze the whole trunk sometimes will collapse. It's a watery stem, not strong and woody, so if all that water in the stem freezes the whole stem turns to mush. This does NOT necessarily kill the plant though.