A .NET DLL or EXE file could not be loaded.
An executable file (.exe or .dll) could not be loaded either because it is corrupt, missing, or otherwise inaccessible.
This error can most often be fixed by doing a repair of .NET or of the application in question. Sometimes it indicates a bug in the application. If a repair of .NET Framework doesn't fix the issue then submit it to Admin Arsenal support for further assistance.
Click this link to see how you can Repair / Re-install .NET Framework 3.5.