Error: Could not load file or assembly Ninject

Challenge:

Error: Could not load file or assembly ‘Ninject, Version=3.2.0.0, Culture=neutral, PublicKeyToken=c7192dc5380945e7’ or one of its dependencies. The system cannot find the file specified.

Above error started appearing suddenly in our local Sitecore (Sitecore.NET 8.1 (rev. 151207)) project. We eyed lot of articles on-line but none helped, So that is why I thought it’s better to blog this out. We investigated for couple of hours to get this fixed, may be this post saves someone’s time.

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