After installation VirtualBox 4.2.14 for Windows hosts from https://www.virtualbox.org/wiki/Downloads an error message appeared like below

Failed to create the VirtualBox COM object.
The application will now terminate.

Callee RC:

CO_E_SERVER_EXEC_FAILURE (0x80080005)

A bit digging in Virtualbox logs (Document and Settings\.Virtualbox ,


VirtualBox COM Server 4.2.14 r86644 win.x86 (Jun 21 2013 16:12:11) release log
00:00:00.000000 main     Log opened 2013-06-26T09:55:00.622000300Z
00:00:00.000000 main     OS Product: Windows 7
00:00:00.000000 main     OS Release: 6.1.7601
00:00:00.000000 main     OS Service Pack: 1
00:00:00.015000 main     DMI Product Name: HP Compaq Pro 6300 SFF
00:00:00.031000 main     DMI Product Version: 
00:00:00.031000 main     Host RAM: 3476MB total, 1787MB available
00:00:00.031000 main     Executable: C:\Program Files\Oracle\VirtualBox\VBoxSVC.exe
00:00:00.031000 main     Process ID: 5960
00:00:00.031000 main     Package type: WINDOWS_32BITS_GENERIC
00:00:00.764000          VDInit finished

00:00:05.881000 Watcher  ERROR [COM]: aRC=E_ACCESSDENIED (0x80070005) aIID={3b2f08eb-b810-4715-bee0-bb06b9880ad2} aComponent={VirtualBox} aText={The object is not ready}, preserve=false

Just run program as administrator and problem solved.