Vijay,
Sorry you are having so many problems with that. It's hard for me to say what is happening because I can't reproduce the error. When I take a backup from the server and move it to WIN7 on a virtual machine, it restores in seconds. It just seems odd that it actually gives you an error message that it is looking for the HP laptop. How does it know what computer you use? Is it really saying that or just saying it can't find the databases?
Also, while I really don't want to tempt fate and remove the databases from my server, that should work without a hitch as well.
You do say that you are trying to do this for safety. How do you mean? Sure, taking the backup home and installing it may mean you have it on your home machine but that is no safer than backing it up locally or taking the backup home. You can always put the backup file on your home computer, but there is no reason to actually restore it for archive purposes.
Hope this helps. Let me know if that is the exact error message you are getting.