Hi Praveen,
Can you provide some more insight to the issue.
The BO Product Version you are using with pathces(if any)
Which application server are you deploying your application to?
Is the BO server and the application server on the same machine? Or they are on diffeent machines?
If the two are on different boxes, Is there a firewall between the two boxes?
If you have a firewall in place, consider assigning a static port to the webi servers in your environment and set a rule in firewall and open those port for communication.
Also you would need to make sure that the jars in your application are from the latest environment installed at your end. Remove any old referrence jars and build the project again.
Thanks,
Prithvi