Hey Trupthi,
This is what i see from the logs,
at VirtualInfrastructure.Utils.AssemblyResolver.set_MainAppPath(String value)
at VpxClient.UI.OnSuccessfulLogin()
at VpxClient.UI.OnLoginEvent(String message, Object[] args)
Its talking about the variable path not correct or missing. could you verify the same from
System Properties>Advanced>Environment Variables > System variables
More Information can be found on how to in this link
http://www.techhead.co.uk/running-vmware-vsphere-client-on-windows-7
Thanks,
Avinash