My assumption was not a statement, it was a question becoz i was failing. Finally with some tweaks i was able to do it. There was nothing wrong in the approach of mine. Simple stupid mistake. I forget to put the value in the variable for the file path(i guess this was my mistake), so before even executing the bullk insert it was valiadting the file connection, and was throwing error---invalid file connection or the file connection is pointing to and invalid object or object that doesn't exist.
Anyway, thanks to u for ur time
and to all out there.