Problem Solution:
The problem was due to N/W entries of registry corruption.
1. Click Start, click Run, type regedit, and then click OK.
2. Locate and then delete the following registry subkey:
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Network\Config
3. If your server is a domain controller, go to step 5. (This includes servers that are running Windows Small Business Server 2003.) If your server is not a domain controller, delete the following registry subkeys:
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Services\Tcpip\Parameters\Adapters\ {GUID}
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Services\Tcpip\Parameters\Interfaces\{GUID}
4. Click Start, click Run, type sysdm.cpl, and then click OK.
5. In the Systems Properties dialog box, click the Hardware tab, and then click Device Manager.
6. In Device Manager, expand Network adapters, right-click the network adapter that you want, and then click Uninstall.
7. Restart the computer.
8. Reassign the IP address and Restart the System.
Reference:
http://support.microsoft.com/kb/937056
http://forums.techarena.in/windows-server-help/20016.htm
