ld.so.1:login:fatal:too-many-files-open

Dear Managers,
whenever i run telnet 0 on a solaris7 m/c i get an
error like ld.so.1:login:fatal:libc.so.1:open failed
:Too many open files connection closed by foreign host

If any one has faced similar problem pl. suggest
i have tried by changing
$LD_LIBRARY_PATH =
/usr/lib:/usr/dt:lib:/usr/openwin/lib but that is not
working..
thanks in advance..
vikram

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[668 byte] By [CodeProf.com] at [2007-12-24 22:59:00]