I have been working on setting the tape library for carrying out the backups. I have eventually been able to resolve all the issues and getting it started.
After getting it replaced I had to decide which backup software to use on it for backups. Ended up installing the Veritas 10d and refering to the manuals to get my hold onto how to configure it.

Firstly I had to install the remote agents to the machine we wanted to back up. The remote could be pushed out using the add remove tool in the control panel. Select the Veritas software and click change. Now go through the wizard to do push out the remote agents to the required servers and desktops.

Second step is to create the device pools. It is a group of storage devices that can be targetted for backups. If you run the veritas software for backups and select the device tab you would find the tape library beeing used. If you load the tapes into the autoloader they would all be monitored in the device tab. Initially they don't have any name assigned to them so by right clicking onto each of them you have to first catalog(name) them appropriately.

Ater that, thirdly I had to create a media set. A media set is logical group of storage media for which you can specify how long data will be appended or over write protected. After creating media sets we can target backup jobs to it.

Backup jobs could then be created individually or by using policies. Policies contains the data selections we specify for backups and all the details like what when and how it will be backed up.
it can reflect the back strategy created and simply managing the large number of backup jobs. Backup jobs actually allow to associate a policy with a selection list.

Eventually after all I allows to monitor the running and scheduled back up jobs.