Chart.SaveImage does not save anything in the image

Hello, I'm working on a wcf service and trying to create a chart serverside and save it as image so that I can send the image url to external users. Here is the complete code:

 var chart = new System.Web.UI.DataVisualization.Charting.Chart();
            chart.EnableViewState = false;

            chart.Titles.Add(new System.Web.UI.DataVisualization.Charting.Title());
            chart.Titles[0].Text = "Cash Balance Comparison";
            chart.Titles[0].Alignment = System.Drawing.ContentAlignment.TopCenter;
            chart.Visible = true;
            chart.Legends.Add("Legend1");

            var series = chart.Series.Add("School 1");
            series.ChartType = System.Web.UI.DataVisualization.Charting.SeriesChartType.RangeColumn;
            series.Points.AddXY("dept 1", 12345);
            series.Points.AddXY("dept 2", 345);
            series.Points.AddXY("dept 3", 345);
            series.Points.AddXY("dept 4", 5656);

            series = chart.Series.Add("School 2");
            series.ChartType = System.Web.UI.DataVisualization.Charting.SeriesChartType.RangeColumn;
            series.Points.AddXY("dept 1", 54345);
            series.Points.AddXY("dept 2", 444);
            series.Points.AddXY("dept 3", 54345);
            series.Points.AddXY("dept 4", 9090);

            series = chart.Series.Add("School 3");
            series.ChartType = System.Web.UI.DataVisualization.Charting.SeriesChartType.RangeColumn;
            series.Points.AddXY("dept 1", 239);
            series.Points.AddXY("dept 2", 2397);
            series.Points.AddXY("dept 3", 23237);
            series.Points.AddXY("dept 4", 2234487);

            chart.Legends[0].Docking = System.Web.UI.DataVisualization.Charting.Docking.Bottom;
            chart.Legends[0].TitleAlignment = System.Drawing.StringAlignment.Center;
            chart.Legends[0].Alignment = System.Drawing.StringAlignment.Center;

            chart.RenderType = System.Web.UI.DataVisualization.Charting.RenderType.ImageTag;

            string path = @"C:\temp\Charts\test.png";

            chart.ImageLocation = path;

            chart.SaveImage(path, System.Web.UI.DataVisualization.Charting.ChartImageFormat.Png);

            chart.Dispose();
            chart = null;
            return path;

It saves an image with a chart title, but doesn't contain anything else. Can someone please let me know why its not working?

Any help will be highly appreciated.

Thanks.