Hi Kiran,
This problem occurs when some files in the update are missing, even though the update is downloaded and extracted successfully. I would suggest you to try the steps mentioned in this article and check:
http://support.microsoft.com/kb/910336/en-us
If the issue still persists, then I would suggest you to manually download and install the update and check:
http://support.microsoft.com/kb/2871389/en-us
Hope this helps. Let us know the results for further assistance.