Guys, 

Does anybody have any solution for this.........Still waiting for some response...

Why reinstatement? Reinstatement is done when you are out of status. As long as you maintain f1 status, as stated in guidelines you need no reinstatement because your visa is expired. My visa expired on 2008 but I am still on status because I am enrolled at college and hold a valid i20 and never had to do any reinstatement.
My query, are you in good academic standing so far? Have you always registered for 12 credit hours every fall and spring (if undergraduate)? Have you ever been suspended from college?
If you answer yes to all except the last one, I don't clearly see any reasons for reinstatement.
The only reason you need to have a current visa is to travel outside the country.
Also please elaborate your situAtion so that other users can also give you suggestions.

I had been attending 12 credit hours. My GPA is around 3. I had never been out of status. The reason for my reinstatement was that i was supposed to be transfered within 60 days of grace period (which i was not aware of). Since my previous college didnt inform me of such grace period and the results of  SEVIS being released. Its real confusing. I have been asked to fill-up some I-539 and a letter from myself and  the petitioner stating my case. Who would be my petitioner.