Hi,
Thanks for your response. But the issue was not with the log files as such. The deployment manager didn't start in the first place, and none of the log files were generated.
I was able to fix the issue by launching deployment manager through command prompt, using the runas and start commands.
After I launched once from cmd, I was able to open deployment manager in the way mentioned in my original question.
Weird stuff.
-Abhinav