System not booting on new kernel-2.6.32-504.16.2.el6.x86_64

Issue

• Upgraded a kernel-2.6.32-504.16.2.el6.x86_64 recently and it throws a Kernel Panic when booting up.
• Newer kernel works if run lvm vgchange -ay under dracut shell and exit.
• During boot time system detected boot disk, but lv's are not activating properly.

sd 0:0:0:0: [sda] 286679925 512-byte logical blocks: (146 GB/136 GiB)
sd 0:0:0:0: [sda] Write Protect is off
sd 0:0:0:0: [sda] Mode Sense: 73 00 00 08
sd 0:0:0:0: [sda] Write cache: disabled, read cache: disabled, doesn't support DPO or FUA
 sda: sda1 sda2

dracut Warning: No root device "block:/dev/mapper/vg0-LogVol01" found
dracut Warning: LVM vg0/LogVol01 not found
dracut Warning: LVM vg0/LogVol00 not found

• Lvm filter in both /etc an initramfs allows to scan all devices.

 filter = [ "a/.*/" ]