MiKTeX and proTeXt ⇒ Format Update fails after new Installation

[shishir_b_sahay]

I did the following steps during my installation (Windows-7, 32 bit OS):-

1. Deactivated my anti-virus.
2. Installed the "Complete" MikTeX 2.9 32-bit 20110901 using setup-2.9.4250.
3. Under "Maintenance (Admin)" --> "Update (Admin)", I updated the packages from Internet.
4. Under "Maintenance (Admin)" --> "Settings (Admin)" I selected the "Refresh FNDB" option and there was no problem till this stage. However, when I clicked the "Update Formats", I got the following error message:-
   

   miktex-makefmt: The input file could not be found.
   initexmf.EXE: The operation failed for some reason.
   initexmf.EXE: Data: C:\Program Files\MiKTeX 2.9\miktex\bin\miktex-makefmt.exe

5. Nonetheless, I installed TeXworks-setup-0.4.5-r1281.

Things seem to be working fine. Still, I'm worried. Any solutions please?