dhcp service failing and logging this "No subnet declaration for eth1" error in /var/log/messages

Issue

• dhcp service fails while starting and dumps following error in /var/log/message logs:

  # /etc/init.d/dhcpd start 
  Starting dhcpd:                                            [FAILED] 
  
  No subnet declaration for eth1 (XX.XX.XX.XX). 
  ** Ignoring requests on eth1.  If this is not what 
     you want, please write a subnet declaration 
     in your dhcpd.conf file for the network segment 
     to which interface eth1 is attached. ** 
  
  Not configured to listen on any interfaces!