Thanks Curtisi for the response.
Here are the answers for your questions:
I am right now using the evaluation product and I have 19 more days till expiry.
1. version of reports : 6.0.0.1
2. version of LEM: 6.0.0.1
3. I tried doing what you have suggested, but still getting error : logon failed while trying to run reports.
I have attached the SWLEMReports.log file herewith. Is this something to do with licensing?
Thankyou so much for the help.