Hi AmishBabu,
"how you display a subVI in a front panel of another VI?"
For LabVIEW 7.0 and 7.1, under control palette, containers, there is a "Sub Panel". You can open reference to your subVI and have the subVI's front panel displayed in the sub panel.
"is there any way to update the graph as we are going through the subVI"
This can be done by passing the control reference of the graph into the subVI.
Or if in the top VI you have parallel while loops running at the same time, you can use global variable to update and display the graph. You can write values to the global variable in your subVI and read its value from the top VI. There are many other ways to do this of course, such as using queues or notifiers.
You can find examples for both questions i
n the LabVIEW example finder.
Dan