[SOLVED] Could not open jvm.cfg

Error: could not open 'C:\Java\jre7\lib\i386\jvm.cfg'
This error occurred when I tried to run a program using Java Virtual Machine Launcher.

Solution:
As a temporary fix what I did was searching for the file jvm.cfg (which was found somewhere under JDK_HOME) and made the file available in the path mentioned in the error message. 

The following is the content of the file jvm.cfg

 
-client KNOWN
-server KNOWN
-hotspot ALIASED_TO -client
-classic WARN
-native ERROR
-green ERROR

The permanent solution to this error is adding the path JDK_HOME\jre\bin (C:\Java\jdk1.7.0\jre\bin; - in my case) to the System Environment Variable- Path