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Suma M said:Not able to figure out the issue..!!
Go on - it clearly tells you what's wrong:
Error: C9555E: Failed to check out a license.License server system does not support this version of this feature. Feature: mdk_std_compiler5 License path: ;c:\program files\arm\licenses\license.dat; FlexNet Licensing error:-25,147 Check that your license details are correct in the License Management dialog of MDK. Additional information is available at: www.keil.com/.../license_management.htm
and it tells you where to go for help:
If you need further help, provide this complete error report to your supplier or license.support@arm.com
so have you done that?