Hi Sanajeev,
Glad you got it fixed. But, please don't take away from this that you have to change the subfolders permissions. When you install a program, all of the subfolders inherit the permissions of the parent folder. Then you use permissions to change access to any subfolder or file.
Say, you install Amazing Charts and everything is working. Everyone has access to it because they have access to the main folder. Then you decide I do not want all my users to have access to the backups. So, you keep the permissions so AC can put the backups in the folder, but you would add certain users to the permissions and deny them access. By denying them access, you don't change your other permissions. Deny always trumps Allow. Say you do the same for imported items. And, you deny users permission to open the folder. But, you want one user to have access, so you change them. These are all under the Security NTFS settings. They look scary because of the amount of permissions there are, but basically, only Full, Read/Write and Read are the ones to worry about.
While you can change the permissions on the actual databases, it is strange that you have to. I doubt there are many, if any, people on here where it doesn't work out of the box.
Happy Holidays