gpedit.msc not working in Windows 7

I searched all the forum but can't find the solution, so I only left to post a new thread>>
The Group Policy Editor (gpedit.msc) is not running in Windows7 64bit Home Premium.
1)I 'run'ned the command gpedit.msc through Administrator Rights or Administrator A/c even in Safe mode but Windows throws the error -
Windows cannot find gpedit.msc, make sure.....

View attachment 4041

2)I even tried to locate and open, but cannot.
3)I tried to replace file - W7 32bit Enterprise through Virtual Machine - but all in vain.
Thus I need a tough soln. as all relating problems like Autorun, Taskbar.. can be cured.