Panel Clock Problem?

[das]

I am facing a clock problem for the past two or three days. When I right
click on the clock and issue 'adjust date and time', it is working fine.
I am synchronizing with the Net Clock by 'Synchronize Now'. There it is
showing the proper time in that window, but the panel clock is not
getting changed at all. I checked it with the BIOS too. It is showing
proper time there. And this wrong time is getting inscribed in every
system activity. The Evolution window is showing my mails with spurious
time. I don't know what happens there where they reach. 

Is it some kind of HW problem in my machine? 

---
das