Excel Checkout throws runtime error 2147417851 (80010105)

I have mircosoft 2007 installed in my machine.
When i try to checkout a file from sharepoint 2007, it throws below error.
Run-time error '-2147417851 (80010105)':
Automation error
The server threw an exception.

Code:

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Note: Same code works fine in the machine where microsoft 2003 is installed.

Please help me.

Thanks!