Database Backup Procedure

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hi
i found the procedure to take database backup as

CREATE Procedure Backup_Database
(
@dbName varchar(100),
@Path varchar(200) = '' OUTPUT
)
As
Begin
Declare @Now varchar(100)

if Isnull(@dbName,'') = ''
Begin
RaisError('No Database Name specified while running the procedure',16,1)
return
End
if isnull(@path,'') = ''
Begin
RaisError('No file Name specified while running the procedure',16,1)
return
End
-- Make the filename
SELECT @Now = REPLACE(REPLACE(REPLACE(CONVERT(VARCHAR(50), GETDATE(), 120), '-', ''), ' ', ''), ':', '')
Select @path = @Path + '' + @dbName + '_' + @Now + '.Bak'
-- Take the backup of the database at the specified folder
Backup Database @dbName
To Disk = @Path
With Init
if @@Error <> 0
Begin
RaisError('Error Occurred while taking the Backup, Please check Error Log for Details',16,1)
return
End

Print 'Backup Taken Successfully at ' + @path
-- RETURN @path
End


GO



and iam executing procs as follows

exec Backup_Database 'Malathi','C:/New Folder (2)'

above executaion gives error as follows


Cannot open backup device 'C:New Folder (2)Malathi_20070502170331.Bak'. Operating system error 3(The system cannot find the path specified.).
BACKUP DATABASE is terminating abnormally.
Error Occurred while taking the Backup, Please check Error Log for Details


Malathi Rao