Yet, if someone is facing this issue, Then follow steps below:
download new stand alone SDK from android's developer site
Close eclipse if it is opened and copy new downloaded sdk in the same location where your already existing old sdk is. Must replace conflict files and keep rest.
No need to delete old sdk. Copying as in step 2 will update your Android Developer Toolkit version to 22.6.1 or above which is required and will keep already downloaded APIs.
Now start your eclipse, and the error will be gone forever. :)
if someone will have trouble doing so, leave me a comment, will try to guide.