Thanks Ramesh. I changed the port back to 8080 in the server.xml file present under /server/default/deploy/jbossweb.sar folder and started the jboss server again. But still the same. I try to access the server from my machine through http://myserver:8080/ but no luck.
10:13:42,650 INFO [Http11Protocol] Starting Coyote HTTP/1.1 on http-127.0.0.1-8080
10:13:42,675 INFO [AjpProtocol] Starting Coyote AJP/1.3 on ajp-127.0.0.1-8029
10:13:42,680 INFO [ServerImpl] JBoss (Microcontainer) [5.1.0.GA (build: SVNTag=JBoss_5_1_0_GA date=200905221053)] Started in 22s:956ms
Try starting JBoss with the -b option. That will make JBoss "visible" outside the host server. The -b option requires a host IP address. You can use 0.0.0.0 (to bind to all addresses on the host server) or use the specific IP of the host, for example:
./run.sh -b 0.0.0.0
Thank you so much Scott. It worked:):)