Synfire doesn't start. It says Error: Bad Resource

I have attached the screenshot of the error window.

iLok manager is installed properly.

I have installed Synfire using SETUP.EXE after completely unzipping the zip file. Installation of both Synfire and Audio Engine went smoothly.

I have uninstalled and reinstalled both Synfire and Audio Engine many times but still the same error.

If I start Audio Engine alone it opens perfectly and scans all the VST plugins. But it doesn't run when I start Synfire. I don't even get the splash screen of Synfire. As soon as I click the Synfire icon the 'Bad Resource' error window appears instantly.