Hi Santhana,
Please check if you have RFCEXEC executable in the instance specific kernel directory (/usr/sap/<SID>/DVEBMGSXX/exe).
It happens sometimes that sapcpe doesnt copy this executable from global to the local kernel directory. So if this is not there then you can copy it from global to the local kernel directory.
In the SAP system the TCP/IP connection responsible for this is SERVER_EXEC, just check the connection test and also check the path of the rfcexec under the Program. If it is maintained without any path then it means its trying to find the executable from local instance kernel.
Regards,
Nirmal.K