System can't find `root` partition after booting with `kernel-2.6.32-358.18.1.el6.x86_64`

Issue

• Updated the Red Hat Enterprise Linux 6.1 to 6.4 and installed kernel-2.6.32-358.18.1.el6.x86_64
• After reboot, the machine can't boot and gets kernel panic with the following message.

dracut Warning: No root device "block:/dev/disk/by-uuid/"688c4b8f-863d-4c49-ae4c-dea66de5d68a"" found

dracut Warning: Signal caught!

dracut Warning: Boot has failed. To debug this issue add "rdshell" to the kernel command line.
Kernal panic - not syncing: Attempted to kill init!
Pid: 1, comm: init Not tainted  2.6.32-358.18.1.el6.x86_64 #1
Call Trace:
[<ffffffff8150d478>] ? panic+0xa7/0x16f
[<ffffffff81073ae2>] ? do_exit+0x862/0x870
[<ffffffff81182965>] ? fput+0x25/0x870
[<ffffffff81073b48>] ? do_group_exit+0x58/0xd0
[<ffffffff81073bd7>] ? sys_exit_group+0x17/0x20
[<ffffffff8100b072>] ? system_call_fastpath+0x16/0x1b

• Also while booting the following messages were displayed on screen.

mptscsih:   Unknown symbol mpt_free_msg_frame
mptscsih:   disagrees about version of symbol mpt_print_ioc_summary
mptscsih:   Unknown symbol mpt_print_ioc_summary
mptscsih:   Unknown symbol mpt_raid_phys_disk_pg1
mptscsih:   disagrees about version of symbol mpt_GetIocState
mptscsih:   Unknown symbol mpt_soft_Hard_ResetHandler