Hi Tapas,
1. Make sure all necessary services are active.You can find a list of these services in note 1295006 - Mandatory SICF services for IC WebClient.
http://service.sap.com/sap/support/notes/1295006
2. Please test with standard business role IC_MANAGER and see if you encounter the same.
If you don't encounter the same in IC_MANAGER role, then please check KBA 1996111
to debug and correct the "define generic outbound plug mapping" for your navigation bar
profile.
http://service.sap.com/sap/support/notes/1996111
Best Regards,
Bruce