How to share Folder in Virtual Box

First become the super user

$sudo passwd root

On the Virtual Box: go to devices > shared folders and add a folder.

{I shared a folder named SharedVB (folder on windows) on D drive and gave it a name: SharedVB}

Then go to shell (again in the Virtual box) and do

$ sudo mkdir /mnt/Dshare

$ sudo mount.vboxsf SharedVB /mnt/Dshare
 The shared folder is up and ready.

The benefit is that one can copy from windows and access it from Virtual box.