@Somashekar: have you tried to create a war and deploy separately instead of from IDE (Assuming you are trying to deploy from IDE)? I am facing something similar although my code works perfectly when I create a war and deploy from tomcat console, however I get 404 when I do the same in eclipse.
I am still trying to figure out a solution.
Not looking good. I think this might be the end. Wait! Is that a tiny ad?
Building a Better World in your Backyard by Paul Wheaton and Shawn Klassen-Koop