Resolution
This problem occurs due to the presence of a known bug CSCsd63863.
For a workaround, upgrade the ASA to one of these versions:
1) 7.3(0.1)
2) 7.2(0.40)
3) 7.1(2.1)
Otherwise, Create a shared folder on the root directory, then move all other shares to this folder . A point to be noted is that short cuts won't work