Selenium Driver Service not found exception

I am new to Selenium. While going through simple tutorial, I got stuck with above exception. The error is related in initialization itself:

[TestInitialize()]
    public void MyTestInitialize()
    {
        var capabilitiesInternet = new OpenQA.Selenium.Remote.DesiredCapabilities();
        capabilitiesInternet.SetCapability("ignoreProtectedModeSettings",true);
        WebDriver = new InternetExplorerDriver();            
    }

The error looks as here while the dlls are present as seen here. Please help!!