RHEL 5 system with boot from multipath device is unable to boot with newly created initrd image

Issue

• The system is configured to boot from SAN, after recreating the initrd image system is unable to boot and shows following error messages on the console:

  i8042.c: No controller found.
  Red Hat nash version 5.1.19.6 starting
  megasas: INIT adapter done
      Reading all Physical volumes. This may take a while...
      No volume groups found
      Volume group "rootvg" not found
      Volume group "swapvg" not found
  Unable to access resume device (/dev/mapper/swapvg-swapvol1)
  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 directory00-93000
  Kernel panic - not syncing: Attempted to kill init!
  

• This issue is observed only while booting the system with new initrd image, there is no issue observed while booting with older initrd