System fails to boot 'kernel-2.6.32-358.11.1.el6.x86_64' shows 'Probing EDD (edd=off to disable)... ok' message on screen

Issue

1) System boots with 'kernel-2.6.32-358.6.2.el6.x86_64' but fails with
'kernel-2.6.32-358.11.1.el6.x86_64'
2) Initially it used to stuck by showing following message:

    Probing EDD (edd=off to disable)... ok

3) By setting the serial console with 'earlyprintk=ttyS0,115200n8' below mentioned panic messages has been captured:

Kernel panic - not syncing: Too many early reservations
Pid: 0, comm: swapper Not tainted 2.6.32-358.9.1.el6.x86_64 #1
Call Trace:
 [<ffffffff8150d378>] ? panic+0xa7/0x16f
 [<ffffffff81c2f236>] ? __reserve_early+0xc7/0xc9
 [<ffffffff81c2f3bf>] ? reserve_early+0x30/0x39
 [<ffffffff814f3cb4>] ? init_memory_mapping+0x494/0x6a0
 [<ffffffff81c2d4cb>] ? setup_arch+0x640/0xbb6
 [<ffffffff8150d481>] ? printk+0x41/0x48
 [<ffffffff81c27c33>] ? start_kernel+0xdc/0x430
 [<ffffffff81c2733a>] ? x86_64_start_reservations+0x125/0x129
 [<ffffffff81c27438>] ? x86_64_start_kernel+0xfa/0x109