Error Importing data from Excel 2010- Need help

Hi All,

              I received the following error on running the following command :

SELECT * FROM OPENROWSET('Microsoft.ACE.OLEDB.12.0',
'Excel 12.0 Xml;HDR=YES;Database=C:\AdhocTasks\PerumalTasks\SupplierHostfamilyPerumal.xlsx','SELECT * FROM [ELEKTRAII-HostFamily$]');

Error :

Msg 7399, Level 16, State 1, Line 1
The OLE DB provider "Microsoft.ACE.OLEDB.12.0" for linked server "(null)" reported an error. The provider did not give any information about the error.
Msg 7303, Level 16, State 1, Line 1
Cannot initialize the data source object of OLE DB provider "Microsoft.ACE.OLEDB.12.0" for linked server "(null)".

I have Drivers installed for the above Provider. I have cross checked this. I have connected to QA instance from my local sql instance  and running the query from that session. The File specified above exists in my local machine(Local drive).

Please help me in resolving the above error

Any help would be really appreicated

Thanks and Regards

Chaithanya M

Regards Chaithu.. If it is usefull,Mark this as Answer.