Many a thanks to Satya Dinesh Babu Manne, one of our customers who had found a new way to troubleshoot websphere problem. The solution [What he has basically tried was instead of trying to reuse any existing ports which seem to be having some conflicts, he has defined some new ports and transport chains] is given below:
1) In WebSphere Admin Console, Navigate to Application Servers -> Server Name -> Web Container Settings -> Web Container Transport Chains
2) In this view which shows current transport chains, click on New Button
3) In the resulting wizard at step 1, Give a new name to this chain (I gave it WC_CacheMonitor_Inbound) , and from the template Drop Down box select Webcontainer (Chain 1) and click on Next
4) In Step 2 , give this a new port name to identify it , and the host , port values, For the Port I gave 9030 when creating on instance 1 and 9032 when creating on instance 2. Click on Next.
5) In Step 3, Click on Finish button.
6) Repeat the above steps for each server in Cluster (I got 4 servers)
7) Save Configuration Changes.
Navigate to Environment -> Virtual Hosts, Click on New button
9) In the Wizard, give a new name and click on OK button.
10) In the resulting window click on the new Virtual Host created and click on Host Aliases for that Virtual Host.
11) Add the Virtual Host by making sure to reflect the Host and Port numbers (like 9030, 9032 etc) which have been already been created in the previous steps for Web Container Transport chains.
12) Save the Configuration Changes.
13) Navigate to Applications -> Enterprise Applications -> perfServletApp –> Map virtual hosts for Web modules
14) Select the newly created Virtual Host from the Drop Down.
15) Save the Configuration Changes, and restart all Servers.
16) The perfservlet is now accessible though ports 9030 and 9032 against the hosts configured
I was able to configure and test a websphere monitor after making these changes.