I am trying to install pywin32 for Python 2.6.
I have python installed but it's not in the regular c: drive but on the d: drive . The pywin32 installer does not find it and I cannot give the custom path to it.
I checked, thepython folder is the path. Is there a workaround this issue ?
From the pywin32 README

If the installation process informs you that Python is not found in the 
      registry, it almost certainly means you have downloaded the wrong version -
      either for the wrong version of Python, or the wrong "bittedness".

Are you sure you got the right version for your python and your cpu architecture? If you did and that did not work, you might try building from source, I think there might be a command line flag to allow you to specify the python installation location.
Problem installing pywin32