On a build solaris machine there is already an installation of purify where I have generated a instrumented binary by running the purify command. I need to check this purify binary from another solaris machine by running it after it is copied under a specific folder.
The issue is that Purify is not installed on this second machine. Now if the purify instrumented binary is run from this machine it looks for the purify libraries which it cannot find out.
The questions are:-
1) Is it necessary to install purify on second m/c. Can the purify directory structure on the first machine be mounted on the second machine and thereby the issue can fixed. Or does it require a fresh installation of
purify on the second machine.

I'm guessing here. You might try the Solaris equivalent of the ldd command to see which libraries that are needed. Even if everything you need to run the binary is in the shared directory hierarchy, you will probably need to add a path to PATH and/or add a library path. Also check if there is an environmental variable needed like PURITY_BASE or something similar. If this is a binary that you built from source, you know the requirements it has in itself as well.