Checked in the device manager all the drives for USB Controller Bus were in place.
Found a KB article from MS talking of the same issue and was published by MS on April 26, 2013.
Article goes by this: http://support.microsoft.com/kb/2821819.
To resolve this issue, install the Windows 8 and Windows Server 2012 cumulative update 2822241.
For more information about how to obtain this cumulative update package, access the following article number below to view the article in the Microsoft Knowledge Base:
Windows 8 and Windows Server 2012 cumulative update: April 2013: http://support.microsoft.com/kb/2822241.
Go to Control Panel.
Click Windows Updated.
Click View update history.
Click on “To remove an update, see Installed Updates”.
It will take you to the next screen, “Uninstall an update”.
Note: Always set you Windows update settings to “Check for updates but let me choose whether to download and install them”. As shown in the fig. below.