Finally the issue for fixed and able to connect to remote ejbs successfuly.
Actually there is space in password value in ejb client proprties file and due to that it failed.
I build Jboss picketbox(Jboss security) libraries and debugged then I found the reason for the issue.
Once I update the ejb client priorities file I am able to connect to ejbs.
Thanks Darren for constant support to fix the issue.