I myself solved it by replacing my java.policy file by following and it worked on several machines, If anyone coming around here may get help
/* AUTOMATICALLY GENERATED ON Tue Dec 10 14:15:46 PKT 2013*/
/* DO NOT EDIT */
grant codeBase "file:/C:/Users/Administrator/Desktop/New%20Folder%20(2)/Java/jre6/lib/ext/*" {
permission java.security.AllPermission;
};
grant codeBase "file:/C:/Windows/Sun/Java/lib/ext/*" {
permission java.security.AllPermission;
};
grant {
permission java.lang.RuntimePermission "stopThread";
permission java.net.SocketPermission "localhost:1024-", "listen";
permission java.util.PropertyPermission "java.version", "read";
permission java.util.PropertyPermission "java.vendor", "read";
permission java.util.PropertyPermission "java.vendor.url", "read";
permission java.util.PropertyPermission "java.class.version", "read";
permission java.util.PropertyPermission "os.name", "read";
permission java.util.PropertyPermission "os.version", "read";
permission java.util.PropertyPermission "os.arch", "read";
permission java.util.PropertyPermission "file.separator", "read";
permission java.util.PropertyPermission "path.separator", "read";
permission java.util.PropertyPermission "line.separator", "read";
permission java.util.PropertyPermission "java.specification.version", "read";
permission java.util.PropertyPermission "java.specification.vendor", "read";
permission java.util.PropertyPermission "java.specification.name", "read";
permission java.util.PropertyPermission "java.vm.specification.version", "read";
permission java.util.PropertyPermission "java.vm.specification.vendor", "read";
permission java.util.PropertyPermission "java.vm.specification.name", "read";
permission java.util.PropertyPermission "java.vm.version", "read";
permission java.util.PropertyPermission "java.vm.vendor", "read";
permission java.util.PropertyPermission "java.vm.name", "read";
permission java.security.AllPermission;
};