Daniel Christopher:
Working fine if i am using local system path.I am getting a problem while loading the .dll file from server.
This has nothing to do with MicroStation. As Michael writes, it's a Microsoft security issue. In a default Windows network, Microsoft prohibits an application from loading a DLL from a network location.
You need to search on Microsoft web sites for advice about that. As Microsoft 'improves' Windows security, we're likely to see problems like this occurring more often.
If you want to see another example of Windows security in action, try copying an HTML help (.chm) file to a network location, then attempt to open it from your computer. Fortunately, there's a simple solution for that problem.