Hi Mayank,
Remoting has a per invocation timeout facility, but I don't believe there's any way to access it using an EJB3 proxy. The best you can do would be to set a global timeout in $JBOSS_HOME/server/$CONFIG/deploy/ejb3.deployer/META-INF/jboss-service.xml:
<mbean code="org.jboss.remoting.transport.Connector"
name="jboss.remoting:type=Connector,name=DefaultEjb3Connector,handler=ejb3">
<depends>jboss.aop:service=AspectDeployer</depends>
<attribute name="InvokerLocator">socket://${jboss.bind.address}:3873/?timeout=xyz</attribute> <<=== here
<attribute name="Configuration">
<handlers>
<handler subsystem="AOP">org.jboss.aspects.remoting.AOPRemotingInvocationHandler</handler>
</handlers>
</attribute>
</mbean>
-Ron