Error 12700 VMM cannot complete host operation while creating Virtual Networks

While creating virtual networking on one of the Hyper-V 2008R2 host

It was giving an error  12700 VMM cannot complete the host operation on <servername> server because of the error

I tried rebooting/removing and reading back to cluster . But then it always throw an error while creating Virtual Network. Because of this I was not even able to create VM on the cluster . It was giving error "Error 20400  1 parallel subtasks failed during execution.

Found MS KB 2486812 which explain how to fix and what is the root cause. Downloaded nvspbind and run it on problematic Hyper-V cluster.

 

And finally I was able to create Virtual Network