Yeah, the issue was with the conflict between the system architecture Vs. Java installed.
Also after properly setting the env variables from here: It worked for me. Thanks :)
Java SE Development Kit 8u112 on a 64-bit Windows 7 or Windows 8
Set the following user environment variables (== environment variables of type user variables)
JAVA_HOME :C:\Program Files\Java\jdk1.8.0_112
PATH :your-unique-entries;%JAVA_HOME%\bin (make sure that the longish your-unique-entries does not contain any other references to another Java installation folder.
Notice that these environment variables are derived from the "root" environment variable JAVA_HOME. This makes it easy to update your environment variables when updating the JDK. Just point JAVA_HOME to the fresh installation.