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It's a design change - the LDAP parameters, AREA and ARDBC, are now stored in the Centralized Configuration forms rather than the ar.cfg file.
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Newer version now store these parameters in centralized configuration form.
Applications --> AR System Administration --> AR System Administration Console --> System --> General --> Centralized Configuration
select the component type value com.bmc.arsys.ldap.area to see the AREA LDAP configuration items.
You can edit here the the Area Ldap parameters.
Thank you Mark & Mohammad for your response. I completely forgot centralized configuration forms while working on it.