"ODBC's SQL InstallDriverMAnager Failed"
By doing Google search we came to know about below solution. Below steps had solved the issue and we were able to install VC++ without getting any error.
1. Download and install subinacl from:
2. Download reset.cmd and put it in C:\Program Files\Windows Resource Kits\Tools folder.
4. Enter into CMD prompt.
5. Enter the following commands one at a time and click Enter.
cd "C:\Program Files\Windows Resource Kits\Tools"
It seems these step will clean the registry for any permission related issues and therefore it is making this installation issues successful. Anyway I am not sure about it. If you know more details, you can share it thro' comments.