I am receiving correct Ip address on my PC and able to ping all the URLs but when I try to open any URL it directs me to a wrong format. For example the browser redirects google.com to http:///google.com (3 Slashes)... Could any body help me in this regard?

I would delete Temporary Internet Files and Cookies and also:
Try, Tools/ Internet Options, Connections, then LAN, and be sure Automatically Detect Settings is selected.
Can't hurt.
Also click on Home and see what is your home page.

Thanks Startmando.

It really helped. Cheers!

Good Deal.