i will rephrase what hemanth said...i did as below and it wrked..
extract the .zip sent by sir.. and place the 'lib' folder into C: drive
create a new folder in C: say xyz.
start basic builder wizard
in poject file browse to xyz.
then in project rep browse and select 'lib'
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Ankit Srivastav
MS student
Bharti School of telecom tech & mgmt
IIT Delhi.