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Can you try to replace the config.xml with the backup copy of it and start the server?
Also check if you could comment the below similar elements in the config.xml and restart the server, if you have not maintained the backup copy of the configuration file.
If the server still fails to start, please check the server log , for any critical issues or errors and revert back with the details or error stack trace to further assist you.
Thanks Vijaya for the replies.
Yes, replacing config.xml from backup did the trick.
Main issue was locating the right directory. It turned out to be C:\Documents and Settings\<username>\Application Data\JDeveloper\system<jdev version>\DefaultDomain\config in my case.