to my fortune Outlook worked after 90 minutes of that crashing. but it failed to recognised the mail files it had stored previously. it killed me more that my mails were present and empty inside. after much googling i read that extracting corrupted mails is possible. i took a trial on "Outlook mac database recovery". the support team of the tool took a remote desktop session to help me extract my mails. and to my surprise, it actually worked. however I have made my mind not to move back to outlook again. i have exported all the mails to thunderbird. no problems so far.
for those who are bearing such issue, you can check here: www.outlookmacdatabaserecovery.com/download-outlook-mac-database-recovery