After reading labnol post, I felt why only Unix and why not windows. I did some search over internet and finally could able to tailer this script.
It works fine if you have only one CD-Drive. If you have multiple CD drives, then explore the options of the Object I am using in this script.
Set oWMP = CreateObject("WMPlayer.OCX.7" )
Set ArrCDROM = oWMP.cdromCollection
Write in comments section if you need any more clarity.
Tags: Vbscript for ejecting CD-Drive, CD-Drive eject command, eject CD drive from command prompt.