On Wed, Sep 17, 2014 at 07:59:03PM +0530, Priyanka Ranjan wrote:
 libguestfs: command: run: /usr/libexec/qemu-kvm
 libguestfs: command: run: \ -nographic
 libguestfs: command: run: \ -machine accel=kvm:tcg
 libguestfs: command: run: \ -device ?
 libguestfs: error: /usr/libexec/qemu-kvm exited with error status 1, see
 debug messages above
 libguestfs: trace: launch = -1 (error) 
It looks as if qemu is broken on your machine.  What's the output of:
  /usr/libexec/qemu-kvm -nographic -machine accel=kvm:tcg -device \?
Note that you don't need to run libguestfs tools as root.
Rich.
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