Workaround :
Log into the Application Manager database as the AM Oracle userid and run the following SQL.
SQL>update aw_timezone_list set aw_gmt_diff = 5.5 where aw_tz_name = 'IST'; SQL>commit;
This will adjust the 30 minute time discrepancy with IST schedules.
BEWARE: If awinstall is run using a version that does not contain the fix after running the above update statement, the default value will revert back to GMT5.