Kernel panic

[Raghu Chikkamenahalli]

I have installed Redhat7.3 on HP Netserver lp2000r and it was working fine.Suddenly today morning ,it gave number of "connection are exceeded " .I was able to ping but unable to do the telnet.Restarted the system ,now it is no coming giving an error
"kernel panic" No init found .Try passing init = option to kernl.
I have two images 1.linux and 2. linux-up.It used to up with linux-up.Tried with rescue mode also ,and when I tried to run chroot /mnt/sysimage ,it gave a message ,unable to execute /bin/sh.As this system is little bit critical please do me help to bring this system up.
The lilo.conf entry is as follows.
prompt
timeout=50
default=linux
boot=/dev/sda
map=/boot/map
install=/boot/boot.b
message=/boot/message
lba32

image=/boot/vmlinuz-2.4.7-10smp
label=linux
initrd=/boot/initrd-2.4.7-10smp.img
read-only
root=/dev/sda3

image=/boot/vmlinuz-2.4.7-10
label=linux-up
initrd=/boot/initrd-2.4.7-10.img
read-only
root=/dev/sda3

The fstab entry is as follows.
LABEL=/ / ext3 defaults 1 1
LABEL=/boot /boot ext3 defaults 1 2
none /dev/pts devpts gid=5,mode=620 0 0
none /proc proc defaults 0 0
none /dev/shm tmpfs defaults 0 0
/dev/sda2 swap swap defaults 0 0
/dev/cdrom /mnt/cdrom iso9660 noauto,owner,kudzu,ro 0
0
/dev/fd0 /mnt/floppy auto noauto,owner,kudzu 0 0

Thanks in advance,
Regards,
Raghu.

[Leonard Davison]

Well these are always fun. When I have seen this it usually means a file in the /boot is clobbered. If you can get it to boot from a floppy and have a shell, you may be able to do a mkinitrd to recreate the ramdisk it wants to load. Otherwise I would do an "upgrade" of the Redhat 7.3 and then re-patch the kernel and other stuff...