After successfully compiling the project in Xcode 6, I am unable to run it in the simulator with the above mentioned message. I did all the possible research, tried everything and still no advances.
I am not working with swift, neither I use widgets or extensions, so please do not suggest solutions caused by these as can be seen in similar questions.
If someone found a possible cause (or solution!!) other than these, please help. Thanks
This has now been resolved. The problem was caused by ShareKit library added by CocoaPods for compatibility reasons. After removing the library and all related code, the app successfully launched in simulator. I recommend checking the system log for more details on the issue as to me it pointed me in the right direction (stating the name of conflicting library).