Sekhar,
Our dev team is looking into the issue.
In the meantime can you check if this workaround helps ?
Open the “deployment.xml” file, which is located at “META-INF/ibmconfig/cells/defaultCell/applications/defaultApp/deployments/defaultApp” using “Open with…” > MyEclipse XML editor or text editor
Find the line :
<deployedObject xmi:type=”appdeployment:ApplicationDeployment” xmi:id=”ApplicationDeployment_1361442411857″ startingWeight=”10″ warClassLoaderPolicy=”APPLICATION”>
and change “APPLICATION” to “SINGLE”
Let us know how it works for you.