Dear Sumeet,
Thanks for sending us all the information. I believe the reason for the exception is the access permissions on the directory.
During the installation process, Karmasphere Studio plugins are written to the Eclipse installation directory. If the directory has read-only partial access, it is not possible to save all the plugins. Would it be possible for you to install a fresh copy of Eclipse in C:\Users\<username>\eclipse_test? Please provide write permissions on the eclipse_test directory.
Please let us know, if you still get the exception on restarting Eclipse. I am looking forward to hearing from you.
Regards,
Neena Kaushik