I managed to get it working, by copying some files from my previous installation as highlighted in the below images. Steps i followed to get the installation working.
Step 1:- After receiving error i went to the installation folder and found a setup.exe file in installation folder executed it as administrator and completed the installation. After that when i started the client it says that few dll files are missing.
Step 2:- Copied those files from my previous installation and it worked, but question is still same why the files are not copied in first place.