Rafeeq and James
Let give you a clearer understanding of the problem.
Currently \inetpub\content\{535 . . . (32-BIT Virus Defs) = 30GB
inetpub\content\{07B. . . (64-BIT Virus Defs)=29 GB\
SymcData\spcVirDef32 = 800 MB
SymcData\spcVirDef64 = 800 MB
Symantec\LiveUpdate\Downloads\" = 900 MB
Remaining Disk Space on Drive= 300 MB
Now Even if I add 20GB more to this drive then it will start decreasing as soon as I add it and eventually it will be consumed by those two Def's folder within few minutes
Now as per this article (http://www.symantec.com/docs/TECH166923 ) to clear the corrupt Defs . When I ran luall.exe from cmd it gave me the error which I added in the screenshot. Now after clearing them I managed to had 60GB free Disk space and when I restarted the SEPM service it started to decrease and after 20 minutes it was consumed again fully.