User cannot log into Websphere console due to SRVE0260E error

When administrative user tries to log into newly configured Network Deployment console for WebSphere Process Server, browser shows error and does not proceed to the console. Page refresh and dmgr restart do not resolve this issue.

Error Page Exception
SRVE0260E: The server cannot use the error page specified for your application to handle the Original Exception printed below.

Original Exception:
Error Message: java.lang.NullPointerException
Error Code: 500
Target Servlet:
Error Stack:
java.lang.NullPointerException
     at com.ibm.isclite.container.provider.PortletContainerContextProvider.addContainerService(PortletContainerContextProvider.java:101)

This happens because of Open files limit set to too low value

Steps to resolve this:

Raise open files OS limit on linux systems to 8192

$> ulimit -n 8192

and restart the deployment manager server afterwards.