Comment # 40 on bug 1203558 from Matthias Brugger

(In reply to Duy Hua from comment #37)
> I had tried this bootargs below:
> > setenv bootargs 'console=ttySC0,115200n8,earlyprintk=ttySC0,rootwait,init=/initrd'
> > setenv bootargs 'console=ttySC0,115200n8,earlyprintk=ttySC0,rootwait,init=/sbin/init'
> > setenv bootargs 'console=ttySC0,115200n8,earlyprintk=ttySC0,rootwait,init=/bin/init'
> 
> And all of this meets kernel panic.

What is the init binary on your initrd? It seems you use some modified initrd,
correct?