Hello Sadarul:
I'm not sure if you've found a solution to your problem with udevd and ntpd dying during your repetitive bootups. As Ralf has pointed out, it sounds like a TLB or cache management problem. I believe it is the same problem that I've run across using the PMC-Sierra Xiao Hu board, whose solution is described here:
http://www.linux-mips.org/archives/linux-mips/2007-07/msg00205.html.
The XH is basically the same platform as your MIPSEL board. Looking at the code to your BSP, release
1.8.3, I can see that the described workaround will not be used for either of your boards. I know definitely that the workaround is required for your MIPSEL platform; I suspect it is also required for the MIPS board you have, as that is using the RM9150 which uses the E9000 core.
Anyways, give that fix a try and see how it goes. I'll bet it will solve your problem.
Shane