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1) Take backup of jvm.dll located at c:Program FilesOracleJInitiator1.3.1.xbinhotspot directory. (Depending on JInitiator version you have)
2) Copy jvm.dll from C:Program FilesJavajre1.6.0_07binclient (or whichever highest version of jre you have) to c:Program FilesOracleJInitiator 1.3.1.xbinhotspot
3) Clear browser cache and also Oracle Jar cache
(Remove all files from c:documents and settings<username>Oracle Jar cache)
4) Close all the browsers and restart.
In case if you are unable to find the jvm.dll in that location or if the above solution didn’t work for you, you can download the working jvm.dll from here.
I hope your issue should have been resolved now !