Thank You! oombera, for answering the query.
I really appreciate your effort to answer, even the closed thread.

I was going through the various threads after posting my query.
there was one thread 'Remove Last Character of Line'. this was pretty similar query. I got the answer for my query from this thread.

And that is why i closed the thread.

I just tried this syntax but it doesn't work. I am working on solaris 5.8. And I am not sure whether this syntax works on other platform. may be this is the case, that, it work on some other platform.

I used this syntax.
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sed 's/ *$//g' < file_tailing_spaces
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Notice that it has two spaces preceeding '*$'
Actually, I have file which has more than one trailing spaces. It worked.

Thank You! Once Again.
Sameer.