more data
the exact error is at follows
no fstab.sys, mounting internal defaults
Swithcing to new root and running init
unmounting old /dev
unmounting old /proc
unmounting old /sys
exec of init (/sbin/init) failed!!!: No souch file or directory
Kernel panic - not syncing: Attempted to kil init!
I noticed that compared with an working server - the mtab is different
mine
cat /mnt/sysimage/etc/mtab
/dev/mapper/main-root / ext3 rw,usrquota,grpquota 0 0
/dev/md1 /boot ext3 rw 0 0
sysfs /sys sysfs rw 0 0
proc /proc proc rw 0 0
compared with other one
cat /etc/mtab
/dev/mapper/main-root / ext3 rw,usrquota,grpquota 0 0
proc /proc proc rw 0 0
sysfs /sys sysfs rw 0 0
devpts /dev/pts devpts rw,gid=5,mode=620 0 0
/dev/md1 /boot ext3 rw 0 0
tmpfs /dev/shm tmpfs rw 0 0
none /proc/sys/fs/binfmt_misc binfmt_misc rw 0 0
also tring to chroot /mnt/sysimage gives error
chroot: cannot run command '/bin/sh' : No such file or directory