Hi deepaknr,
It looks like you've upgraded your player with an incompatible firmware.
Have you gone through the
DEAD PLAYER RECOVERY GUIDE yet? If not, you will have to so you get your player to a state where you can put another firmware on it.
Then have a read of this post here -->
S1 MP3 PLAYER firmware download site - s1fw.com. When you take your player apart, you will need to note down the Plate and Board ID numbers so you can search for a compatible firmware on s1fw.com.
Hope that helps.