Deployment Failure error: BEA-149205 (Failed to initialize the application 'hello' due to error weblogic.management.Deployment xception)

Problem:
Deployment fails by giving below error. Error observed while starting the server. Server comes up, but the application goes into 'Prepared' state.

<Jul 6, 2014 11:28:43 AM IST> <Error> <Deployer> <BEA-149205> <Failed to initialize the application 'hello' due to error weblogic.management.Deployment
xception: .
weblogic.management.DeploymentException:
        at weblogic.servlet.internal.WarDeploymentFactory.findOrCreateComponentMBeans(WarDeploymentFactory.java:69)
        at weblogic.application.internal.MBeanFactoryImpl.findOrCreateComponentMBeans(MBeanFactoryImpl.java:48)
        at weblogic.application.internal.MBeanFactoryImpl.createComponentMBeans(MBeanFactoryImpl.java:110)
        at weblogic.application.internal.MBeanFactoryImpl.initializeMBeans(MBeanFactoryImpl.java:76)
        at weblogic.management.deploy.internal.MBeanConverter.createApplicationMBean(MBeanConverter.java:91)
        Truncated. see log file for complete stacktrace
Caused By: java.io.FileNotFoundException: File not found
        at java.util.zip.ZipFile.open(Native Method)
        at java.util.zip.ZipFile.<init>(ZipFile.java:117)
        at java.util.zip.ZipFile.<init>(ZipFile.java:133)
        at weblogic.servlet.utils.WarUtils.existsInWar(WarUtils.java:84)
        at weblogic.servlet.utils.WarUtils.isWebServices(WarUtils.java:76)
        Truncated. see log file for complete stacktrace


Solution:
Deployment Path of application 'hello' is changed. Server is not able to find the location from where it was last deployed. Check the path where it is pointed or redeploy it.
In my case, I moved it from 'C:\Users\amitaj\Desktop\OAM\hello.war' to some other location, hence while starting the server, I got the above deployment error. Fixed it by redeploying it from the new location.