Did you print out the directory name you are trying to save to?

my $outdir = 'updated_'.$dir;
my $outfile = $outdir."\\".$excelfile;
print "Trying to save to directory [$outdir]\n";
print "Trying to save to file      [$outfile]\n";
$Book->SaveAs($outfile);
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The directory name you construct makes no sense. Print it out, look at it, and then construct it in a sensible way.

Directory and File Path are printed correctly but unable to save as again .. Same Error.. Not allowing adding updated_ in front of the excel sheet ... Below Is the Error I am getting :

Trying to save to directory updated_E:/Automation Related/Perl Scripts - ALL/IM S_debugging/Final_Scripts/Final_Script_Working Trying to save to file updated_E:/Automation Related/Perl Scripts - ALL/IM S_debugging/Final_Scripts/Final_Script_Working\Parameters.xlsx OLE exception from "Microsoft Office Excel": The file could not be accessed. Try one of the following: ò Make sure the specified folder exists. ò Make sure the folder that contains the file is not read-only. ò Make sure the file name does not contain any of the following characters: < > ? : | or * ò Make sure the file/path name doesn't contain more than 218 characters. Win32::OLE(0.1712) error 0x800a03ec in METHOD/PROPERTYGET "SaveAs" at E:\Automation Related\Perl Scripts - ALL\I MS_debugging\Final_Scripts\Final_Script_Working\IMS_Debug_Script_V5.pl line 591.

It;s asking me to overwrite the existing excel file rather creating a new excel file as mentioned in the script .. updated_Excelfile.