Hello Shashank,
First try registering the value mapping service by typing the below url -
http://<hostname>:<port>/ProxyServer/register?ns=http://sap.com/xi/XI/System&interface=ValueMappingReplication&bean=localejbs/sap.com/com.sap.xi.services/ValueMappingApplication&method=valueMappingReplication
and then re-run your scenario.
Thanks,
Kalyan