Hi Praveen,
I wrote some tools for correlation and event2live (using for BI). You will find the code here:
[https://checkmk.de/check_mk-exchange-file.php?&file=act-mkeventd-1.4.0p31.mkp](http://ITSM Event Console)
This is for Version 1.4 and you have to look at correlation.py and the checks for event2live. You need to change some files to use it in 1.6, but it could be helpful for you to find an solution.
Regards, Christian