Modelsim license with intelFPGA_lite

While simulating my custom AXI4 master with mentor graphics AXI4 slave, I am getting following error.

# Loading C:/Users/MEHULM~1.288/AppData/Local/Temp\Mehul.Modhiya.288@CI5W10P111406_dpi_6652\win32pe_gcc-4.2.1\vsim_auto_compile.dll

# --------- --------- --------- --------- --------- --------- ---------

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# ** ERROR: failed to get a license (mgcvipaeaxi4) for Adaptor axi4!

#

# ** Check the license environment (e.g. LM_LICENSE_FILE or MGLS_LICENSE_FILE using lmutils), the transcript and any logs.

#

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#

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# ** Fatal: (vsim-3960) Foreign module requested halt.

Does anyone have an idea how to get out of this????