google_singh, when I faced the same problem I varied the advice given to me by ujjwal a little bit ( 😉 ) and blocked the files HBSBEAT.EXE and HBSBeat.exe instead of deleting them, along with allowing the Sify ip. That worked for me.
If you use Zone Alarm do this, in the main window click on Program Control, look for these two files in the program list, left click on each of their permissions i.e. under the Access and Server fields, and Click on Block for each of them.
You might want to try this (after restoring the file you deleted) before setting up your LAN subnet in the Safe Zone. I am not sure how the subnet bit will help, but what's the harm in trying 🙂