All these process is shown step by step in the below video on youtube.Comment if you have any queries.:
VSPE (Virtual Serial Port Emulator) is a software which provides us the utility to access multiple com ports on the same PC. We can create new serial ports virtually and can connect them as we want. For example I can create 2 serial COM ports and if I pair them then they will be connected with each other. So that I can run two applications