@pravesh_4766,,comfortable with registry ru???
navigate to this .....>>>>
HKEY_USERS\.DEFAULT\Software\Microsoft\Windows\CurrentVersion\Policies\Explorer
nd if u find "NoFolderOptions" onm the right hand pane,simply delete it
or try out this raw TWEAK!!
right click on desktop,click on create shortcut nd enter the following in the path EXACTLY...
rundll32 shell32.dll,Options_RunDLL
double click nd see if u get folder options!! ((Assuming u have winXP..wont work in 98))
if all else fails..try reinstalling IE/repairing IE frm add/remove programs...might help!