Unable to start any VM using Virtualbox 6.1.14 on Oracle Linux 7.8

[HKW]

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I installed virtualbox 6.1.14 on Oracle Linux 7.8 host. I then created a new VM. When I tried to start the VM to start the guest OS installation, I got an error saying a critical error has occurred while running the virtual machine and the machine execution has been stopped. I looked at the VM log but can't seem to find the cause of the issue. I have attached the log here hoping someone might give me some guidance.

Host OS: Oracle Liux 7.8
kernel: 4.1.12-124.34.1.el7uek.x86_64

Virtualbox: VirtualBox-6.1-6.1.14_140239_el7-1.x86_64
Extension pack:
# vboxmanage list extpacks
Extension Packs: 1
Pack no. 0: Oracle VM VirtualBox Extension Pack
Version: 6.1.14
Revision: 140239
Edition:
Description: Oracle Cloud Infrastructure integration, USB 2.0 and USB 3.0 Host Controller, Host Webcam, VirtualBox RDP, PXE ROM, Disk Encryption, NVMe.
VRDE Module: VBoxVRDP
Usable: true
Why unusable:

# lsmod |egrep -i vbox
vboxnetadp 28672 0
vboxnetflt 28672 0
vboxdrv 512000 3 vboxnetadp,vboxnetflt

# modinfo vboxdrv
filename: /lib/modules/4.1.12-124.34.1.el7uek.x86_64/misc/vboxdrv.ko
version: 6.1.14 r140239 (0x002e0000)
license: GPL
description: Oracle VM VirtualBox Support Driver
author: Oracle Corporation
srcversion: 6E2675B7CA3DC3B0F6C10E9
depends:
retpoline: Y
vermagic: 4.1.12-124.34.1.el7uek.x86_64 SMP mod_unload modversions
parm: force_async_tsc:force the asynchronous TSC mode (int)

[scottgus1]

Your guru meditated over VERR_INVALID_STATE, which is a rather catch-all error form many possible things (I think).

One thing I see is the location of the guest disk file:

/root/mynewvm_1.vdi

My guess is your guest doesn't have permissions to get into root's folder. Put the guest disk file in '/vbox/VirtualBox VMs/mynewvm' and try again.