I am creating some few items and also wants to display the author's name (Written by : XYZ). However, i don't want user to see lists of all items written/created by the author. So, i want to disable link associated with the author's name (author's link) but could not find the solution. I would be very happy if anyone can help please...

I'm afraid that you will have to remove it through code. You will have to use K2 template overrides and modify the corresponding view page (item, category_item, etc.)
Read here on how the K2 overrides are used getk2.org/documentation/tutorials/174-templating-with-k2-and-the-concepts-of-sub-templates

Not too simple :)

Thanks a lot for yr response..