Error creating a classic HFM application in Hyperion 11.1.2.2

I am trying to create a classic hfm application in Hyperion 11.1.2.2. When i enter application name and other information and press submit it shows message 'Creating new application' but then gives an error
The following exception has occurred in .(): oracle.epm.fm.common.exception.HFMException with message: Error occurred while creating the application.
All of HFM related services are running fine. But I have stopped EPMA related services assuming they are not needed for Classic HFM application creation.
Any ideas. Thanks in advance.

Need to increase database (where HFM Schemas are created) processes and sessions. once after increase you should be able to open the application without any issues.
Looks like newly redesigned hfm v11.1.2.2 need more db sessions & processes.

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        at oracle.odi.runtime.agent.processor.impl.StartSessRequestProcessor$2.doAction(StartSessRequestProcessor.java:366)
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        at org.python.core.PyException.<init>(PyException.java:46)
        at org.python.core.PyException.<init>(PyException.java:43)
        at org.python.core.Py.JavaError(Py.java:455)
        at org.python.core.Py.JavaError(Py.java:448)
        at org.python.core.PyReflectedFunction.__call__(PyReflectedFunction.java:177)
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        at org.python.core.PyMethod.__call__(PyMethod.java:215)
        at org.python.core.PyMethod.instancemethod___call__(PyMethod.java:221)
        at org.python.core.PyMethod.__call__(PyMethod.java:206)
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        at org.python.pycode._pyx15.f$0(<string>:6)
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        ... 19 more
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        ... 33 more
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    Hi Ujjwal,
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