Network stays disconnected after network service restart

Solution Verified - Updated -

Issue

Network comes up properly only after reboot. With "service network restart" network does not come up,
interfaces are up, can ping to localhost and local ip, but can not ping any other IP or gateway.
Only when the server is rebooted, network starts working again.

Environment

Red Hat Enterprise Linux 5.5
Kernel: 2.6.18-274.12.1.el5 #1 SMP x86_64
Ethernet controller: Broadcom Corporation NetXtreme BCM5715S Gigabit Ethernet (rev a3)
Driver: tg3
Version: 3.116
Firmware-version: 5715s-v3.28

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