Source:

http://vishalorcl.blogspot.com.au/2012/01/em-daemon-is-not-running-dbconsole.html

The agentTZRegion value in /oracle/product/11.2.0/*************_*******/sysman/config/emd.properties is not in agreement with what agent thinks it should be.Please verify your environment to make sure that TZ setting has not changed since the last start of the agent.
If you modified the timezone setting in the environment, please stop the agent and exectute 'emctl resetTZ agent' and also execute the script mgmt_target.set_agent_tzrgn(<agent_name>, <new_tz_rgn>) to get the value propagated to repository.

Quick Solution: 

Change the operating system time zone to the one required, as indicated in the following files:

D:\oracle_home_dir\product\11.2.0\dbhome_1\..... sysman\log\agabend.log

D:\oracle_home_dir\product\11.2.0\dbhome_1\..... sysman\log\emdb.nohup

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