Issue : date: cannot set date: Operation not permitted

To fix the issue:

# vzctl stop <veid>
# vzctl set <veid> –save –capability sys_time:on
# vzctl start <veid>

# vzctl enter <veid>
# mv /etc/localtime /etc/localtime.bk
# ln -s /usr/share/zoneinfo/Asia/Calcutta /etc/localtime
or set time by:

date -s "9 Feb 2012 12:13:31"