Hi there Senthil, how do you create your webapp, iIs it from SCA or by any other method. I have not seen this by my self, the error says ..schedule, could it be something about any timer job that are running at the same moment when you create your webapp?
Thanks for the response, I myself found Solution please find below
Error : The specified schedule recurrence string is invalid: Weekly at 02:00.
This is very strange issue. Because as you know this issue doesn't have any Information's on any of the Logs.
To resolve check each and every job which is running on the Sharepoint Server with the default or error Value. We found this is the Job "job-dead-site-delete" was running on "weekly at 02:00". Because when we checked the Microsoft Article itself they mentioned this as the default value.
Then when we were seen the article very minute we found that one part of article is clearly saying to set this job on a weekly basis by setting up on a Particular day and at the end it shows just weekly basis. Then we changed it to day on a weekly basis and the error got fixed. Please find the Article link and the command which we ran to change the value to fix the above error.
Link : "http://technet.microsoft.com/en-us/library/cc261868.aspx"
Command Syntax : "stsadm -o setproperty -pn job-dead-site-delete -pv "Weekly at Sat 02:00""