Hi Mandar,
I'm assuming you installed Tomcat with BusinessObjects 4.0. In either case, have you checked the registry to verify that the install path is looking at the right directory? If this is correct, go into your Tomcat installation directory, go to the 'bin' directory, open up the Tomcat6w.exe file, and ensure that the Logging, Java, Startup, & Shutdown tabs are pointing to the appropriate directories. It might still be looking at the old directory, not the new one.
Hopefully this solves your problem. If not, please post up your findings from the two posts. Thanks,
-Victor