Typescript is updated using the following command:
npm install typescript -g
And latest version 2.4.2 is installed correctly and I can verify it by looking the path shown by folloing command:
npm list typescript -g
but the following command shown older version (1.0.3.0) :
tsc -v
Also looked in TEMP variable and it points to the same path as it showed by npm list.
Also running where tsc in command prompt doesn't show anything and doesn't come up with any error.