Initramfs not loaded or passed to kernel in grub2 UEFI x86_64

[KESHAV P.R.]

I get "VFS: cannot open root device" and "append correct root= option"
errors and kernel panic while booting Archlinux x86_64 using grub2
UEFI x86_64. This bug may be due to initrd file not being loaded or
not being passed corretly to the linux kernel by
grub2 (compiled for efi).

This kernel panic occurs only with GRUB2 compiled for UEFI x86_64
firmware (may even occur with i386 UEFI). I use Tianocore EDK DUET
UEFI64 firmware. This bug does not occur with GRUB2 compiled for BIOS.
The actual Archlinux bug report is
http://bugs.archlinux.org/task/19592 .

GRUB2 UEFI configure options :-

./configure --with-platform=efi --target=x86_64
--program-transform-name=s,grub,grub2, --enable-efiemu
--enable-mm-debug --enable-grub-fstest --enable-grub-mkfont
--disable-nls --prefix=/grub2_efi_x64

Modules included in grub2.efi x86_64 UEFI Application:-

ata part_gpt part_msdos fat ntfs ntfscomp ext2 iso9660 udf hfsplus
fshelp reboot normal chain linux xnu xnu_uuid ls search search_fs_file
search_fs_uuid search_label help loopback cat tar boot configfile cpio
sh echo loadbios efi_gop multiboot multiboot2 relocator

GRUB2 config :-

menuentry "Arch Linux" {
set root=(hd0,8)
linux /vmlinuz26
root=/dev/disk/by-uuid/0cc6e472-7f98-42ff-b7f3-309b641377ad
rootfstype=ext4 ro nomodeset
initrd /kernel26.img
}

My System :-

Dell India Studio 1537 Laptop
GUID Partition Table, EFI System Partition /dev/sda1 fat32,
BIOS Boot Partition /dev/sda2 no-FS,
Archlinux x86_64 root-partition /dev/sda7 ext4,
Archlinux /boot /dev/sda8 fat32

GRUB2 UEFI installed at (/dev/sda1)/efi/grub2
GRUB2 BIOS installed at (/dev/sda8)/grub2