Access Denied Error while reading the model.mdp file

I checked the file for permissions and the user has all permissions. (actually the logged in user in the machine is the administrator)

Please see below for stack trace 

com.mendix.core.CoreException: com.mendix.core.CoreRuntimeException: com.mendix.systemwideinterfaces.MendixRuntimeException: java.security.AccessControlException: access denied ("java.io.FilePermission" "C:\Users\test\Documents\Mendix\Control-main\deployment\model\model.mdp" "read")
    at com.mendix.basis.component.InternalCore.execute(InternalCore.java:535)

Caused by: com.mendix.core.CoreRuntimeException: com.mendix.systemwideinterfaces.MendixRuntimeException: java.security.AccessControlException: access denied ("java.io.FilePermission" "C:\Users\test\Documents\Mendix\Control-main\deployment\model\model.mdp" "read")
    at com.mendix.basis.actionmanagement.ActionManager.executeSync(ActionManager.java:178)

Caused by: com.mendix.systemwideinterfaces.MendixRuntimeException: java.security.AccessControlException: access denied ("java.io.FilePermission" "C:\Users\test\Documents\Mendix\Control-main\deployment\model\model.mdp" "read")
    at com.mendix.util.classloading.Runner.doRunUsingClassLoaderOf(Runner.java:37)

Caused by: java.security.AccessControlException: access denied ("java.io.FilePermission" "C:\Users\test\Documents\Mendix\Control-main\deployment\model\model.mdp" "read")