Type "NI Veristand" in a Web browser. You will find a number of links to tutorials and videos, including some that show building a DLL of a Simulink model in Matlab for import into Veristand. Of course, you also need NI Veristand ... Depending on what you are simulating, you might be able to code the whole thing yourself (but would need more-than-a-beginner's-skill in LabVIEW to do so, I suspect ...).
i want to run my real time simulink model on labview (in real time), matlab script node you are talking about is difficult as compare to simulink.
You won't be running it in real time. LabVIEW isn't real time unless you move to a RTOS. You have no desire to do so if you're looking to use Simulink.
Did you read the post or did you just cherry pick from it? There was information about the MIT and VeriStand. It also used a direct quote from the SIT product page describing where you should go. Hint: It was MIT. The KBs I posted discussed how to get the files into a format MIT would understand. SIT won't be updated. That's what they mean by "obsolete." It's done. Whatever it can do now, it'll do. Take a look at MIT.