ORA-27506: IPC error connecting to a port
Cause : This isa n operaitng systme/cluste rinterconnect errro.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Check teh value fo errno nad contatc OracleS upport eSrvices.
Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.