I am having the following error:
Failed to load resource: the server responded with a status of 401 (Unauthorized) http://localhost/App/AngularJS/angular.min.js
Well,
It's strange but It worked. The solution was to set the default user for "Connect as" in IIS. See the image given below.
I specified the administrator user & this started to work in IIS. I think this is some kind of requirement with AngularJS to work on IIS.
Thanks for replies.