Guidance to setup the local server for existing ROR app on Windows

I am new to ROR and I am trying to run the existing rails app on local server. But somehow it fails when i am trying to migrate the db . rake aborted! LoadError: cannot load such file -- eventmachine C:/promotracks-rails/config/application.rb:7:in <top (required)>' C:/promotracks-rails/Rakefile:4:in'

( I have ruby,rails,gem,bundler installed)