It was very silly thing which i had missed, When i connect the device to the pc using ethernet cable it was detected as unknown network, and tftpd32 was present in allowed program list in windows firewall but there were three check-boxes for tftpd32(infect for every program there are 3 check-boxes).
1. Domain
2. Home/Work(private)
3. Public
and only 1st one was selected for tftpd32, i checked all three check boxes and it started working :)
It is not that great question to put it on stackoverflow but at times one doesnt find solutions to small problems easily so i am not deleting this question. Hope it helps others too. If anybody feels this is not required to keep on stackoverflow i(or admin) can delete it.
Regards, Ankur