Thanks a lot for the reply, Deepak. I tried Custom proxy too, however, the issue exists. The proxy configuration script in this case is a .cab physically on a drive. Is it possible for the runtime settings to take FILE:\\\*. It seems to take only http/s, ftp URLs?
Checked the same against a different environment with the same results. Still checking to find if there is something that we might have missed.
- Vik