Kernel panic with options - "scsi_mod: Unknown parameter max_scsi_luns"

Issue

• After a kernel update using yum, then system panics when booting into the newly installed kernel with the following messages :

scsi_mod: Unknown parameter max_scsi_luns
insmod: error inserting `/lib/scsi_mod.ko`: -1 Unknown symbol in module
insmod: error inserting `/lib/sd_mod.ko`: -1 Unknown symbol in module
insmod: error inserting `/lib/cciss.ko`: -1 Unknown symbol in module
insmod: error inserting `/lib/scsi_transport_fc.ko`: -1 Unknown symbol in module
insmod: error inserting `/lib/lpfc.ko`: -1 Unknown symbol in module
stabilized: open /proc/scsi/scsi: No such file or directory
  Reading all physical volumes. This may take a while..
  Volume group "VolGroup00" not found
Unable to access resume device (/dev/VolGroup00/LogVol01)
mount: could not find filesystem `/dev/root/`
setuproot: moving /dev failed: No such file or directory
setuproot: error mounting /proc: No such file or directory
setuproot: error mounting /sys: No such file or directory
switchroot: mount failed: No such file or directory
Kernel panic - not syncing: Attempted to kill init!