Yes, it sounds like you caught a Rootkit which has relocated the original MBR of your machine.
Without the key from the SafeBoot Management system, the drive cannot be recovered - even if you send it off to a recovery agency, there's no way they could decrypt the data.
The only thing you can do is try to reverse what the virus has done - the original SafeBoot Boot Record is still on the drive (as proven by the error message you are getting) - if you can find it, and put it back in sector 0, you'll be able to boot the machine again.
Unfortunatly, the most common root kits maintain their files in an encrypted state (TDSS for example) so the chance is slim that this is possible.
Sorry - this is why we maintain a backup of everything in the management center, and it even has a recycle bin. Maybe your company keeps backups of this data in case of disaster and you can get the key from there?
I believe this needs to be done by connecting this hard drive to another PC and fix it.
Can you suggest any tools that can help in fixing the boot record?
Sorry no, I have no suggestions on how to recover from this problem unless you can find that recovery record.