This behavior is observed in MATLAB due to a corrupt installation of the MCR.
To work around this issue, add the <mcrroot>\v72\bin\win32 folder to the system path, where mcrroot corresponds to the directory into which the MCR is installed. However, this may cause problems with other versions of MCR since the file 'mclmcrrt72.dll', which calls the 'mclmcr.dll', is version specific.
Hence, the other option is to reinstall the MCR using 'MCRInstaller' on the target machine.
You can find the 'MCRInstaller.exe' in the following directory:
(where $MATLAB is the MATLAB root directory as returned by the following command: