Bug 40667

После обновления make-initrd до 2.20.0 при update-kernel 
  для установки kernel-image-ovz-el7-1:3.10.0-alt4.1160.31.1.vz7.181.10
  получаем ошибку и panic при загрузке этого ядра:

make-initrd-2.20.0-alt1.x86_64:

[00:00:00] Config file: /etc/initrd.mk
[00:00:01] Guessing config ...
[00:00:01] Generating module dependencies on host ...
[00:00:01] Guessing is complete
[00:00:01] Creating initrd image ...
[00:00:02] Putting udev rules ...
[00:00:02] Putting modules ...
depinfo: ERROR: Module module not found.
make[2]: *** [/usr/share/make-initrd/features/add-modules/rules.mk:5: put-modules] Ошибка 1
make[1]: *** [/usr/share/make-initrd/mk/make-initrd.mk:187: process-config] Ошибка 2
make: *** [/usr/share/make-initrd/mk/make-initrd.mk:177: all] Ошибка 1
Generating grub configuration file ...

  При возврате на make-initrd 2.19.1:

make-initrd-2.19.1-alt1.x86_64:

[00:00:00] Config file: /etc/initrd.mk
[00:00:00] Generating module dependencies on host ...
[00:00:01] Creating initrd image ...
[00:00:01] Putting udev rules ...
[00:00:01] Putting modules ...
[00:00:01] Generating module dependencies in image ...
[00:00:02] Sorting sysvinit services ...
[00:00:02] Packing image to archive ...
[00:00:02] Writing build info files ...
[00:00:02] Compressing image ...
[00:00:06] Adding CPU microcode ...
[00:00:06] Used features: add-modules add-udev-rules buildinfo cleanup compress depmod-image kbd network qemu rdshell rootfs system-glibc ucode
[00:00:06] Packed modules: 8139cp 9pnet 9pnet_virtio ahci ata_generic ata_piix cdrom crc32c-intel drm drm_kms_helper drm_panel_orientation_quirks e1000 ext4 fb_sys_fops jbd2 libahci libata mbcache mii pata_acpi pcnet32 serio_raw sr_mod syscopyarea sysfillrect sysimgblt ttm virtio virtio_balloon virtio_blk virtio_console virtio-gpu virtio_input virtio_net virtio_pci virtio_ring virtio-rng virtio_scsi vmw_vsock_virtio_transport vmw_vsock_virtio_transport_common vsock 
[00:00:06] Installing image ...
[00:00:06] Unpacked size: 25M
[00:00:06] Image size: 6,7M
[00:00:06] Removing work directory ...
[00:00:06] Image is saved as /boot/initrd-3.10.0-ovz-el7-alt4.1160.31.1.vz7.181.10.img

  и ядро грузится нормально.