Hi sushil.prabhu@sparton.com,
In both cases your installation fails due to limited privileges. Here's the error message from your logs:
CLLReason [errorNo=5, errorString=Error installing the FlexNet Publisher Licensing Service and registers. Access has been denied to a resource, either a service or a file, or the registry. Administrator privilege is required to resolve this problem. (FNP error 1007), flxActMajorErrorNo=0, flxActMinorErrorNo=0, flxActSysErrorNo=0, flxCommErrorNo=1007]
Unless you run the installer as admin you won't be able to use FreeMASTER Lite.
Please note that only the Lite feature requires license validation. You can try installing FreeMASTER (main tool) by deselecting FreeMASTER Lite option on the Component Selection screen.
Kind regards,
Iulian