Thanks Scott for your reply.
I closed my MS Outlook application and got rid of Port 1098 already in use error, but got another problem - jboss.service = HAJNDI failed due to port 1101 already in use. But I can see the content in http://localhost:8080/jmx-console
I used TCPView (as suggested in FAQ) to find about port 1101, but no application is using that port before starting up JBoss.
I am running JBoss on localhost and there is firewall installed in the machine.