Below are the steps performed to fix the issue.

1. Enabled DCOM component
2. regsvr32 %windir%\system32\atl.dll
3. regsvr32 %windir%\system32\netshell.dll
4. regsvr32 %windir%\system32\hnetcfg.dll
5. regsvr32 %windir%\system32\netcfgx.dll
6. regsvr32 %windir%\system32\netman.dll

Note: After performing above task, need to restart the server

Reference: http://www.pcreview.co.uk/forums/thread-531768.php