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Hi corvettefisher / MauroBonder,
Thank You for your input.
After a long research I had fixed it.
ISSUE: The .vmx file associated with the virtual machine is corrupted.
FIX: Recreate a corrupted .vmx file [ http://techhead.co/vmware-esx-how-to-easily-recreate-a-missing-or-corrupt-vmx-file/ ] // Thanks to Simon Seagrave for a great blog on how to recreate .vmx file.
Cheers,
Umashankar Velliah