avanish321 wrote: it does not look it was created using boot camp assistant anyways )
Really, just curious what has been disclosed thus far that you'd make that assumption? When using the Boot Camp Assistant it creates a FAT32 volume named BOOTCAMP and shows as /Volumes/BOOTCAMP. IMO It safer to assume it was created by the Boot Camp Assistant and remove it using the Boot Camp Assistant. Only if the Boot Camp Assistant complains would I use Disk Utility under the circumstances.
However regardless of how it was created or removed I agree with removing it as the VM will preform better under the HFS+ Filesystem then the FAT32 Filesystem and if the User isn't going to have a native install of Windows there is not much sense in maintaining such a small volume.