"Windows cannot display the volume control on the taskbar because the Volume Control program has not been installed. To install it use Add/Remove Programs in Control Panel."
After googling around, the problem finally got resolved by the following steps provided at Microsoft website...
- Have the Windows XP CD ready in the drive (e.g., d)
- Go to command prompt (Start-> Run-> type in "cmd" next to open)
- Inside of the command prompt, enter
- d: (to switch to the d drive) and press enter
- cd i386 (to switch to the i386 directory) and press enter
- type in the following to copy the file sndvol32.exe into your the folder where the windows system files are placed-- expand sndvol32.ex_ c:\windows\system32\sndvol32.exe -- and press enter
- Type in "exit" and press enter to exit the commend prompt