Hi @Sarfraz Aslam ,
Per my understanding, this error message means that the SharePoint version builds may be too low and need to be upgraded to [14.0.4762.1000] or higher. You can also try to check the error logs to see if there are more error messages.
You could try to install SharePoint 2013 SP1 to test if it solves the issue:
Steps for upgrading sharepoint 2013 to service pack1
References:
SharePoint 2013 Build Numbers and CU’s
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