Sunil,
The issue you are seeing is not clear to us.
1. Can you please share with us the MyEclipse Version and Build Id details from Help > About MyEclipse section?
2. Please share with us the steps you followed to set up the project and when exactly you are seeing the exception.
3. Please share with us the exact and full stacktrace of the error you are seeing to help us investigate further.
–Swapna
MyEclipse Support