notification on a event

[ashokd001]

I have asked to write a event based function as below.
Platform : windows
Language: python
Problem: I Have a specific folder in c drive.
c:\event
this folder is shared to all user with write permission.Now if any body
create a file or folder inside this c:\event folder or its subfolder
a function will be called inside i can write any logic.

Any suggestion highly appreciated.
-Ashok