Hello Alok,
Have you tried the example programs located at \VB\Samples\DAQ\Analog Input\? If these programs run successfully, then both the DAQ board and ComponentWorks are working properly. If you try to create a new application, and do not see your DAQ board in the drop down box, make sure that other applications that use the DAQ board are closed (MAX, LabVIEW, and so forth) and then try restarting VB. If this does not help, I would recommend installing the latest version of NI-DAQ (and service pack). If this issue continues, please feel free to contact us at http://www.ni.com/ask so that we can render further assistance.
Jeremiah Cox
Applications Engineer
National Instruments
http://www.ni.com/ask