Kernel panic - not syncing: Attempted to kill init! exitcode=0x0000000b

Hi,

I cross compiled busybox with armv5 linaro cross compiler. Prepared sd card and flashed this minimal root filesystem in  2nd partition as ext4. gave proper bootargs as 

console=ttyS0,115200n8 root=/dev/mmcblk0p2 init=/init rootfstype=ext4 rw .

Not able to get the shell. Getting kernel panic.

Any help?

Thanks in advance,
Regards,

Bhargav