Check the Windows System event log for possible memory errors. Also check the SQL Server Error log for similar messages. You may have bad memory modules that need replacing. If the server has diagnostic software you should run it and check for any warning messages.
If you don't see any such problems and you're still encountering that error, you may have to reboot the SQL Server anyway.
Yeah i am still getting the error and not able to ping the server. I think i need to go for rebooting the server by taking the downtime from the apps owner.