Hi Abhinav-

Try updating the references.  In the Solution Explorer, expand the
References tree of this project.  Delete each of the references to .NET
dll's (such as System, System.Data, etc.) and the re-create them by
right-clicking `References' and selecting `Add Reference...'

When adding references, make sure the version for each component is
1.1.4322.  If this isn't the default in the list you can click the Browse
button and find them under (usually)
C:\WINDOWS\Microsoft.NET\Framework\v1.1.4322.

I think there is an easier way to do this (somewhere under the project
properties) but can't think of it off the top of my head - nonetheless the
method I mention here should work.

Robert