Hi Rizwan First of all installing the webMethods IS doesn’t mean that you have installed the Broker Server. Try to install the Broker Server which would install the Broker monitor and create a default broker under that broker server.
For your senerio renuka tell me if you installed the new version of broker server on the old one and please some more information that how did you installed cause it seems like the error when installation of the broker server was not completed successfully
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