HTTP Error 500.19 config file path does not exist

Error Summary HTTP Error 500.19 - Internal Server Error The requested page cannot be accessed because the related configuration data for the page is invalid. Detailed Error Information Module IIS Web Core Notification BeginRequest Handler Not yet determined Error Code 0x80070003 Config Error Cannot read configuration file Config File \?\D:\Company\ABC\web.config Requested URL http://localhost:80/services/application/cardmanagement Physical Path D:\ABC\DEF\Website.Hosts Logon Method Not yet determined Logon User Not yet determined Config Source -1: 0:

I am getting this strange error when I try to browse the service. Problem is Physical path is correct but config path is even does not exist in my machine where all applications and iis installed. So I am surprised from where its taking that path and how to correct it.