Selvan,

you should assign the key "Settings" to the settings control (or at least ensure that it is set).

In the Settings.ascx file, remove the button. The Update button is provided by the framework.
Include something like this in the code behind:

public override void UpdateSettings()
{
new ModuleController().UpdateModuleSetting(base.ModuleId, "myKey", this.TextBox1.Text);
base.UpdateSettings();
}

In the Page_Load Event of your View control, add

if (!(Page.IsPostBack))
lbl_Name.Text = base.Settings["myKey"];

Best wishes
Michael

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