Thanks Victor!!
Your solution worked like a charm.
To explain in detail . . .
We have exactly same problem as being discussed in this thread, and we followed the Note 1032461 and downloaded the 'librfc32.dll', however, issue persisted. Tried everything possible as suggested in this thread as well as like registering, restart etc., with no luck.
Finally replaced the file 'librfc32.dll' downloaded from market place with the one found in the path 'C:\Program Files\SAP\hostctrl\exe' as adviced by Victor. Voila!
Apparently, the issue seems with the version of the library 'librfc32.dll'. The downloaded one is obviously the latest version, but the one found in 'C:\Program Files\SAP\hostctrl\exe' was probably the required version.