Why the error "/etc/sysconfig/network-scripts/ifup-eth: line 131: /sys/class/net/bond0/bonding/debug: No such file or directory" OR "bonding: Unknown parameter 'debug'" occurs while bringing up the bonded interface ?

Issue

• When bringing up the bonded interface with service network restart or ifup command it is failing with an error as below:

[root@localhost ~]# /etc/init.d/network restart
Shutting down interface bond0:                             [  OK  ]
Shutting down loopback interface:                          [  OK  ]
Bringing up loopback interface:                            [  OK  ]
Bringing up interface bond0:  /etc/sysconfig/network-scripts/ifup-eth: line 131: /sys/class/net/bond0/bonding/debug: No such file or directory
                                                           [  OK  ]
[root@localhost ~]# 

[root@localhost ~]# ifup bond0
/etc/sysconfig/network-scripts/ifup-eth: line 131: /sys/class/net/bond0/bonding/debug: No such file or directory
[root@localhost ~]# 

• When reloading the bonding module, got error as below:

[root@localhost ~]# modprobe -r bonding
[root@localhost ~]# modprobe -v bonding
[...]
insmod /lib/modules/2.6.32-279.19.1.el6.x86_64/kernel/drivers/net/bonding/bonding.ko debug=1
bonding: Unknown parameter 'debug'
FATAL: Error inserting bonding (/lib/modules/2.6.32-279.19.1.el6.x86_64/kernel/drivers/net/bonding/bonding.ko): Unknown symbol in module, or unknown parameter (see dmesg)