Thanks to all friends. Nothing above helped, but certain changes in Project & Build settings helped me solve the problem.
I changed the following and then got Build Succeeded. * Deployment Target - changed from 7 to 6.0 In Build Settings :- * Base SDK - from "Latest iOS 7.0" to "iOS 7.0" * iOS Deployment Target - Changed from 7.0 to iOS 6.0
Shared me solution as it might help someone else like me.
Wondering why changing from 7.0 to 6.0 worked ??? Does this mean that 7.0 is not stable or compatible ??