Hello, Raj.
What operating system, including service pack, are you using? .NET Framework 2.0 may get installed as one of Windows Updates or a service pack. The fact that you see "Version Information: Microsoft .NET Framework version 2.0.50727.1433; ASP.NET Version 2.0.50727.1433" indicates that .NET Framework is installed. Could you please verify that by looking at "C:\WINDOWS\Microsoft.NET\Framework\v2.0.50727" and if it exists, please let us how many files you have in that folder.
Meanwhile we will also try to run the scenario on the clean machine with .NET Framework 3.5 installed.
Best regards,
UltiDev Team.
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