Is there any way to solve HTTP Error 500.19 - Internal Server?

I'm getting 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     Unknown
Handler      Not yet determined
Error Code       0x80070003
Config Error     Cannot read configuration file
Config File      \\?\c:\inetpub\local.helloworld.com\web.config
Requested URL    http://localhost:8120/Content/HelloWorld.html
Physical Path    
Logon Method     Not yet determined
Logon User       Not yet determined

local.helloworld.com file is not created inside the folder inetpub.