sadly and finally I had to come to this site after finding the solution everywhere!
The issue is that I was developing an ASP.NET website, it works perfectly in the localhost server (IIS) but when I uploaded it to the hosting server (IIS too) I keep getting this issue
System.UnauthorizedAccessException: Access is denied. (Exception from HRESULT: 0x80070005 (E_ACCESSDENIED))
I don't know what else I can do, since its a hosting server I cannot install any more programs either! 
You can see its a database related issue, the only issue with this server I am having is database related, first I uploaded SqlCe but they didn't support, then I migrated the database to SqlServer and it worked fine! And I kept getting issues, this one is the first error as well as the lastest one.
You can see the site here: http://www.aceinternationals.com
I think I might be missing some assembly files from \bin folder
The Control panel is Parallels plesk panel 9.5.5
I am not able to get to the point, where I can allow the anonymous users to view the site as the answer was provided in another answer! Here: Access is denied. (Exception from HRESULT: 0x80070005 (E_ACCESSDENIED))?
How can I allow the users to have access to this site (or database if its database, because the error line is the Initializing of the DatabaseConnection)?
Best Answer
This is the exception which raises when you don't have access to particular user.You can either give permission individually and see whether it works fine, its mainly a permission issue because even i am been going through this and getting this issue.