It was found that the c++ dll which was build using VS 2008 toolset was causing problem when deployed in Windows 2016 server . The dependency walker shows missing dll errors ( few are given below) which i suppose is misleading.

API-MS-WIN-CORE-LOCALIZATION-L2-1-0.DLL
API-MS-WIN-SECURITY-BASE-L1-2-0.DLL
API-MS-WIN-CORE-HEAP-L1-2-0.DLL
API-MS-WIN-CORE-DELAYLOAD-L1-1-1.DLL
API-MS-WIN-POWER-SETTING-L1-1-0.DLL

The same dll runs in Windows 2008 and windows2012 server .
When the dll was build with VS 2013 toolset every thing started working.
Re-building the existing dll in VS 2013 toolset and deploying has huge test effort.

so My suggestion is to provide support for dlls which are built in VS2008 toolset in Windows server 2016.

for details please check my question on MS forum below

https://social.technet.microsoft.com/Forums/projectserver/en-US/1ee4f19d-c7f2-4fd1-8586-0062357c1104/application-fail-to-run-on-windows2016-due-to-missing-dlls-apimswincore-?forum=WinServerPreview