Problem booting android gingerbread on beagle board

Hi,
     I'm encountering a problem booting android gingerbread on
beagleboard-XM (Rev C). I've compiled boot images and file system.
I've followed the steps from the following website
http://processors.wiki.ti.com/index.php/TI-Android-GingerBread-2.3-DevKit-1.0_DeveloperGuide

I've got the following in my gtk terminal

Texas Instruments X-Loader 1.47 (Nov 28 2011 - 20:10:37)
Unsupported Chip!
Beagle xM Rev A
Starting X-loader on MMC
Reading boot sector

208660 Bytes Read from MMC
Starting OS Bootloader from MMC...
Starting OS Bootloader...

U-Boot 2010.06 (Nov 30 2011 - 19:09:52)

OMAP34xx/35xx-GP ES2.0, CPU-OPP2 L3-165MHz
OMAP3 Beagle board + LPDDR/NAND
I2C: ready
DRAM: 384 MiB
NAND: 0 MiB
*** Warning - bad CRC or NAND, using default environment

In: serial
Out: serial
Err: serial
Beagle xM Rev A
Die ID #08d800211ff00000015739eb0802e02b
Hit any key to stop autoboot: 10 9 8 7 6 5 4
3 2 1 0
mmc1 is available
reading boot.scr

** Unable to read "boot.scr" from mmc 0:1 **
reading uImage

2607408 bytes read
Booting from mmc ...
## Booting kernel from Legacy Image at 82000000 ...
   Image Name: Linux-2.6.32
   Image Type: ARM Linux Kernel Image (uncompressed)
   Data Size: 2607344 Bytes = 2.5 MiB
   Load Address: 80008000
   Entry Point: 80008000
   Verifying Checksum ... OK
   Loading Kernel Image ... OK
OK

Starting kernel ...

Uncompressing
Linux..................................................................................................................................................................
done, booting the kernel.
Linux version 2.6.32 (root@ctsuser-ThinkCentre-M70e) (gcc version
4.4.3 (GCC) ) #2 Wed Nov 30 19:20:20 IST 2011
CPU: ARMv7 Processor [413fc082] revision 2 (ARMv7), cr=10c53c7f
CPU: VIPT nonaliasing data cache, VIPT nonaliasing instruction cache
Machine: OMAP3 Beagle Board
Memory policy: ECC disabled, Data cache writeback
OMAP3630/DM3730 ES1.0 (l2cache iva sgx neon isp 192mhz_clk )
SRAM: Mapped pa 0x40200000 to va 0xfe400000 size: 0x100000
Reserving 12582912 bytes SDRAM for VRAM
Built 1 zonelists in Zone order, mobility grouping on. Total pages:
97536
Kernel command line: console=ttyS2,115200n8 mpurate=1000 vram=12M
omapfb.mode=dvi:1024x768MR-16@60 omapdss.def_disp=dvi root=/dev/
mmcblk0p2 rw rootfstype=ext3 rootwait
PID hash table entries: 2048 (order: 1, 8192 bytes)
Dentry cache hash table entries: 65536 (order: 6, 262144 bytes)
Inode-cache hash table entries: 32768 (order: 5, 131072 bytes)
Memory: 256MB 128MB = 384MB total
Memory: 371584KB available (4532K code, 825K data, 172K init, 0K
highmem)
Hierarchical RCU implementation.
NR_IRQS:402
Clocking rate (Crystal/Core/MPU): 26.0/664/600 MHz
Reprogramming SDRC clock to 664000000 Hz
dpll3_m2_clk rate change failed: -22
GPMC revision 5.0
IRQ: Found an INTC at 0xfa200000 (revision 4.0) with 96 interrupts
Total of 96 interrupts on 1 active controller
OMAP GPIO hardware version 2.5
OMAP clockevent source: GPTIMER12 at 32768 Hz
Console: colour dummy device 80x30
Calibrating delay loop... 480.01 BogoMIPS (lpj=1875968)
Mount-cache hash table entries: 512
CPU: Testing write buffer coherency: ok
regulator: core version 0.5
NET: Registered protocol family 16
Found NAND on CS0
Registering NAND on CS0
Unable to get DVI reset GPIO
Target VDD1 OPP = 4, VDD2 OPP = 2
OMAP DMA hardware revision 5.0
bio: create slab <bio-0> at 0
SCSI subsystem initialized
usbcore: registered new interface driver usbfs
usbcore: registered new interface driver hub
usbcore: registered new device driver usb
i2c_omap i2c_omap.1: bus 1 rev4.0 at 2600 kHz
twl4030: PIH (irq 7) chaining IRQs 368..375
twl4030: power (irq 373) chaining IRQs 376..383
twl4030: gpio (irq 368) chaining IRQs 384..401
regulator: VUSB1V5: 1500 mV normal standby
regulator: VUSB1V8: 1800 mV normal standby
regulator: VUSB3V1: 3100 mV normal standby
twl4030_usb twl4030_usb: Initialized TWL4030 USB module
regulator: VMMC1: 1850 <--> 3150 mV normal standby
regulator: VDAC: 1800 mV normal standby
regulator: VPLL2: 1800 mV normal standby
regulator: VSIM: 1800 <--> 3000 mV normal standby
regulator: VAUX3: 1800 mV normal standby
regulator: VAUX4: 1800 mV normal standby
i2c_omap i2c_omap.2: bus 2 rev4.0 at 400 kHz
i2c_omap i2c_omap.3: bus 3 rev4.0 at 100 kHz
Switching to clocksource 32k_counter
musb_hdrc: version 6.0, musb-dma, otg (peripheral+host), debug=0
musb_hdrc: USB OTG mode controller at fa0ab000 using DMA, IRQ 92
NET: Registered protocol family 2
IP route cache hash table entries: 4096 (order: 2, 16384 bytes)
TCP established hash table entries: 16384 (order: 5, 131072 bytes)
TCP bind hash table entries: 16384 (order: 4, 65536 bytes)
TCP: Hash tables configured (established 16384 bind 16384)
TCP reno registered
UDP hash table entries: 256 (order: 0, 4096 bytes)
UDP-Lite hash table entries: 256 (order: 0, 4096 bytes)
NET: Registered protocol family 1
RPC: Registered udp transport module.
RPC: Registered tcp transport module.
RPC: Registered tcp NFSv4.1 backchannel transport module.
omap-iommu omap-iommu.0: isp registered
NetWinder Floating Point Emulator V0.97 (double precision)
ashmem: initialized
VFS: Disk quotas dquot_6.5.2
Dquot-cache hash table entries: 1024 (order 0, 4096 bytes)
JFFS2 version 2.2. (NAND) © 2001-2006 Red Hat, Inc.
yaffs Nov 30 2011 19:19:58 Installing.
msgmni has been set to 726
alg: No test for stdrng (krng)
io scheduler noop registered
io scheduler deadline registered
io scheduler cfq registered (default)
OMAP DSS rev 2.0
OMAP DISPC rev 3.0
OMAP VENC rev 2
Serial: 8250/16550 driver, 4 ports, IRQ sharing enabled
serial8250.0: ttyS0 at MMIO 0x4806a000 (irq = 72) is a ST16654
serial8250.1: ttyS1 at MMIO 0x4806c000 (irq = 73) is a ST16654
serial8250.2: ttyS2 at MMIO 0x49020000 (irq = 74) is a ST16654
console [ttyS2] enabled
brd: module loaded
loop: module loaded
usbcore: registered new interface driver asix
usbcore: registered new interface driver cdc_ether
usbcore: registered new interface driver cdc_eem
usbcore: registered new interface driver dm9601
usbcore: registered new interface driver smsc95xx
usbcore: registered new interface driver gl620a
usbcore: registered new interface driver net1080
usbcore: registered new interface driver plusb
usbcore: registered new interface driver rndis_host
usbcore: registered new interface driver cdc_subset
usbcore: registered new interface driver zaurus
usbcore: registered new interface driver MOSCHIP usb-ethernet driver
ehci_hcd: USB 2.0 'Enhanced' Host Controller (EHCI) Driver
ehci-omap ehci-omap.0: OMAP-EHCI Host Controller
ehci-omap ehci-omap.0: new USB bus registered, assigned bus number 1
ehci-omap ehci-omap.0: irq 77, io mem 0x48064800
ehci-omap ehci-omap.0: USB 2.0 started, EHCI 1.00
hub 1-0:1.0: USB hub found
hub 1-0:1.0: 3 ports detected
Initializing USB Mass Storage driver...
usbcore: registered new interface driver usb-storage
USB Mass Storage support registered.
android init
android_probe pdata: c04c953c
android_bind
android_usb gadget: android_usb ready
musb_hdrc musb_hdrc: MUSB HDRC host driver
musb_hdrc musb_hdrc: new USB bus registered, assigned bus number 2
hub 2-0:1.0: USB hub found
hub 2-0:1.0: 1 port detected
f_adb init
android_register_function adb
adb_bind_config
f_mass_storage init
android_register_function usb_mass_storage
mice: PS/2 mouse device common for all mice
input: gpio-keys as /devices/platform/gpio-keys/input/input0
i2c /dev entries driver
Linux video capture interface: v2.00
mt9v113 2-003c: Registered to v4l2 master omap34xxcam!!
omap-iommu omap-iommu.0: isp: version 1.1
OMAP Watchdog Timer Rev 0x31: initial timeout 60 sec
mmci-omap-hs mmci-omap-hs.1: err -16 configuring card detect
usbcore: registered new interface driver usbhid
usbhid: USB HID core driver
logger: created 64K log 'log_main'
logger: created 256K log 'log_events'
logger: created 64K log 'log_radio'
logger: created 64K log 'log_system'
Advanced Linux Sound Architecture Driver Version 1.0.21.
usbcore: registered new interface driver snd-usb-audio
usb 1-2: new high speed USB device using ehci-omap and address 2
No device for DAI omap-mcbsp-dai-0
No device for DAI omap-mcbsp-dai-1
No device for DAI omap-mcbsp-dai-2
No device for DAI omap-mcbsp-dai-3
No device for DAI omap-mcbsp-dai-4
OMAP3 Beagle SoC init
asoc: twl4030 <-> omap-mcbsp-dai-0 mapping ok
ALSA device list:
  #0: omap3beagle (twl4030)
TCP cubic registered
NET: Registered protocol family 17
NET: Registered protocol family 15
Power Management for TI OMAP3.
clock: dpll2_ck failed transition to 'bypassed'
Unable to set L3 frequency (400000000)
Switched to new clocking rate (Crystal/Core/MPU): 26.0/664/1000 MHz
IVA2 clocking rate: 800 MHz
SmartReflex driver initialized
omap3beaglelmb: Driver registration complete
VFP support v0.3: implementor 41 architecture 3 part 30 variant c rev
3
fbcvt: 1024x768@60: CVT Name - .786M3-R
regulator_init_complete: incomplete constraints, leaving VAUX3 on
regulator_init_complete: incomplete constraints, leaving VDVI on
regulator_init_complete: incomplete constraints, leaving VDAC on
drivers/rtc/hctosys.c: unable to open rtc device (rtc0)
mt9v113 2-003c: chip id mismatch read 0x0, expecting 0x2280
mt9v113 2-003c: Unable to detect decoder
mt9v113 2-003c: chip id mismatch read 0x0, expecting 0x2280
mt9v113 2-003c: Unable to detect decoder
mt9v113 2-003c: chip id mismatch read 0x0, expecting 0x2280
mt9v113 2-003c: Unable to detect decoder
mt9v113 2-003c: chip id mismatch read 0x0, expecting 0x2280
mt9v113 2-003c: Unable to detect decoder
omapdss DPI error: display already enabled
omap_vout omap_vout: 'dvi' Display already enabled
omapdss DPI error: display already enabled
omap_vout omap_vout: 'dvi' Display already enabled
omap_vout omap_vout: Buffer Size = 3686400
omap_vout omap_vout: : registered and initialized video device 0
omap_vout omap_vout: Buffer Size = 3686400
omap_vout omap_vout: : registered and initialized video device 1
hub 1-2:1.0: USB hub found
hub 1-2:1.0: 5 ports detected
Waiting for root device /dev/mmcblk0p2...
mmc0: host does not support reading read-only switch. assuming write-
enable.
mmc0: new high speed SDHC card at address 1234
mmcblk0: mmc0:1234 SA04G 3.67 GiB
mmcblk0: p1 p2
kjournald starting. Commit interval 5 seconds
EXT3-fs (mmcblk0p2): using internal journal
EXT3-fs (mmcblk0p2): mounted filesystem with writeback data mode
VFS: Mounted root (ext3 filesystem) on device 179:2.
Freeing init memory: 172K
Warning: unable to open an initial console.
Kernel panic - not syncing: No init found. Try passing init= option
to kernel.

I've tried the following
(removing the permissions for the file system, and tried the following
boot args: setenv bootargs 'console=ttyS2,115200n8
androidboot.console=ttyS2 mem=256M root=/dev/mmcblk0p2 rw
rootfstype=ext3 rootdelay=1 init=/init ip=off mpurate=1000
omap_vout.vid1_static_vrfb_alloc=y')

Nothing worked out. Can anyone please help me out..