@praveenchand,

Something tells me that you forgot to install the kernel-modules. Normally the attached kernel should work OK (nobody/nothing deletes the stock modules, AFAIK).

It could be that the multiboot uninstallation removed /sbin/preinit, leaving your system unbootable. But I don't know (never used multiboot).

I guess it's time to reflash.. unless you want to use some "rescue" system off an SD card (thanks U-boot you can still boot from the microSD card