If the openvz slave node uses old kernel. i.e., 2.6.18-238.5.1.el5 then you get an error like "FATAL: kernel too old" when you restart a vps container from node.
FIX: All we need to do is replace the kernel version at /proc/sys/kernel/virt_osrelease at slave node.
cd /proc/sys/kernel/
cat virt_osrelease
2.6.18-238.5.1.el5.028stab085.5
echo 2.6.32 > virt_osrelease
Thats it.