HKEY_LOCAL_MACHINE Settings 7 is missing in registery ??
Daniel is correct here. Settings are replicated from registry, if found, to the Settings.ini, starting in version 10. Registry settings does not get deleted. This is aligned with the rest of the QlikView installation programs, where either backups are created or legacy data is kept for roll-back purposes.
Also, just as Daniel says, if the Settings.ini is deleted, the settings will be re-created from registry (if found) when the service is restarted. Not very common usage scenario, but it does.