Nagendra,
Sorry that you are running into these issues. I have escalated it to a dev team member. They will get back to you.
In the meantime, can you check if there is no other instance of WAS or any other server running at the port ?
netstat (with -b param ) should tell you the ports being used and the exe that started listening on it.
If you can, please shutdown the WAS from admin console, restart your system and check if you still see the issue.