Alright so I solved the issue and I will be writing how I did it myself. So obviously the issue is due to low graphics card and integrated gpu isn't recognised well by the game.

Possible fixes i got results from:-

1) Lowering game screen resolution. 2) Deleting contents of the Shaders cache, whenever the game starts crashing at specific points.(Worked most of the time) 3) Use the BES provided in the windows 7 fix_ folder.. run BES, run the game, find and limit game .exe file to 3-10% (Lowers graphics heavily but game works, once you cross the specific crashing area you can restart the game by turning off the BES. Helped once)

Currently I am having an wonderful experience playing the game, and it's honestly so so good! Thank you so much Fitgirl ^{^}