Hi Gireesh,
I do not found such type of errors after installing/upgrading SAP GUI 7.40 and NWBC 5.0, there are lot of material available on SCN forum:
http://scn.sap.com/thread/3634852
http://scn.sap.com/docs/DOC-58911
http://scn.sap.com/thread/3638296
Hope these links helps you in resolving your issues
Regards;
Bashir Ahmad