Thanks Daniel for the quick response.  Manually I am able to do it but while running it using SDL automation object prj.ImportTransBundle(fileToBeImported)  it's failing.

Attached below the code:

#PRE CONDITION:

LicenseManager_ja_7.tbulic16 is the exported file from the LicenseManager.lpu and we want the same to be imported.

//Tbulic file which need to be imported
var tbulicFileName = @"D:\LicenseManager\LicenseManager_ja_7.tbulic16";

//lpu file to which tbulic needs to be imported
var lpuFile =@"D:\LicenseManager\LicenseManager.lpu";

var app = new PassoloApp();

PslProject m_PslProject = app.Projects.Open(lpuFile );

var isImportSuccesful = m_PslProject.ImportTransBundle(tbulicFileName);

//var isImportSuccesful = m_PslProject.ImportTransBundle(tbulicFileName, 512);
//var isImportSuccesful = m_PslProject.ImportTransBundle(tbulicFileName, 1024);
//var isImportSuccesful = m_PslProject.ImportTransBundle(tbulicFileName, 1536);

if (!isImportSuccesful)
{

   console.log("Import Failed");
}
m_PslProject.Close(0);

app.Quit(0);

# isImportSuccesful  is becoming false since the function m_PslProject.ImportTransBundle(tbulicFileName) is returning false as it is failing to import.

# I also tried with both the flags i.e. pslImportMerge (Value = 512),  pslImportRelease (Value = 1024) and also combined the flag to use both functionality i.e. (Value = 1536) and the same is in commented line in the code.

Please have a look into it.