aspnet_wp.exe could not be started. The error code for the failure is

[ramanathanhariharan]

ASP.NET stopped working due to insufficient privileges on localmachine\ASPNET account.

As suggested by microsoft KB article, I am able to solve this problem.

the article:

http://support.microsoft.com/?id=317012

The solution is to assign the localmachine\ASPNET to the WMI Control properties of "Services and Application"

It has been clearly mentioned in the article.

Thanks to the user firstdivision's link.

Rgds,
hariharan.R