Volume Erase failed : file system formatter failed

Hi All,

While trying to reinstall the Snow leopard on my Macbook pro 13" i am getting above error.

I restarted my macbook pressing and holding c key, it took me to the installation menu

I am trying to erase the the 'Macintosh Hd' from disk utility.. however it gives me error saying..

"Volume Erase failed : lolume erase filed with error : file system formatter failed"

PFA screenshot.
Any help will be appreciable.

 

Tried resetting PRAm

I resetted the SMC as well as PRAM. However it didn't worked.

I am still getting same error.

Any other suggession?