Hi babu, Welcome to Sevenforums.
Here's a link to a list of suggestions that should solve your problem. Possible Solutions to Errors related to MSVCR71.DLL
The options I highly recommend are running a system restore, running the sfc /scannow command and doing a repair installation. However, reinstalling the program may fix the problem as well.
For future notice, you should stick with posting in clean non formatted text. Making your text larger and in italics doesn't help those who are attempting to read your post and respond. If you want to emphasize certain portions of your posts, italics are fine, but changing the size of the entire paragraph doesn't make it any more legible. The things that do help are using proper grammar and separating your text into proper paragraphs.