root.sh failed on first node. ( Oracle RAC 11gR2 )

root.sh failed on node1 while installing grid infrastructure.
Your help will be appreciated.
Please find below req. information along with root.sh log:

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[root@database1 ~]# uname -a
Linux database1.kucb-oracle.com 2.6.18-348.6.1.el5 #1 SMP Fri Apr 26 09:21:26 EDT 2013 x86_64 x86_64 x86_64 GNU/Linux
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[root@database1 ~]# uname -r
2.6.18-348.6.1.el5
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[root@database1 ~]# /u01/app/11.2.0/grid/root.sh
Running Oracle 11g root.sh script...

The following environment variables are set as:
ORACLE_OWNER= oracle
ORACLE_HOME= /u01/app/11.2.0/grid

Enter the full pathname of the local bin directory: [/usr/local/bin]:
Copying dbhome to /usr/local/bin ...
Copying oraenv to /usr/local/bin ...
Copying coraenv to /usr/local/bin ...


Creating /etc/oratab file...
Entries will be added to the /etc/oratab file as needed by
Database Configuration Assistant when a database is created
Finished running generic part of root.sh script.
Now product-specific root actions will be performed.
2013-06-08 17:15:07: Parsing the host name
2013-06-08 17:15:07: Checking for super user privileges
2013-06-08 17:15:07: User has super user privileges
Using configuration parameter file: /u01/app/11.2.0/grid/crs/install/crsconfig_params
Creating trace directory
LOCAL ADD MODE
Creating OCR keys for user 'root', privgrp 'root'..
Operation successful.
root wallet
root wallet cert
root cert export
peer wallet
profile reader wallet
pa wallet
peer wallet keys
pa wallet keys
peer cert request
pa cert request
peer cert
pa cert
peer root cert TP
profile reader root cert TP
pa root cert TP
peer pa cert TP
pa peer cert TP
profile reader pa cert TP
profile reader peer cert TP
peer user cert
pa user cert
Adding daemon to inittab
CRS-4123: Oracle High Availability Services has been started.
ohasd is starting
CRS-2672: Attempting to start 'ora.gipcd' on 'database1'
CRS-2672: Attempting to start 'ora.mdnsd' on 'database1'
CRS-2676: Start of 'ora.gipcd' on 'database1' succeeded
CRS-2676: Start of 'ora.mdnsd' on 'database1' succeeded
CRS-2672: Attempting to start 'ora.gpnpd' on 'database1'
CRS-2676: Start of 'ora.gpnpd' on 'database1' succeeded
CRS-2672: Attempting to start 'ora.cssdmonitor' on 'database1'
CRS-2676: Start of 'ora.cssdmonitor' on 'database1' succeeded
CRS-2672: Attempting to start 'ora.cssd' on 'database1'
CRS-2672: Attempting to start 'ora.diskmon' on 'database1'
CRS-2676: Start of 'ora.diskmon' on 'database1' succeeded
CRS-2676: Start of 'ora.cssd' on 'database1' succeeded
CRS-2672: Attempting to start 'ora.ctssd' on 'database1'
CRS-2676: Start of 'ora.ctssd' on 'database1' succeeded

ASM failed to start. Check /u01/app/oracle/cfgtoollogs/asmca/asmca-1306085PM1709.log for details.

Configuration of ASM failed, see logs for details
Did not succssfully configure and start ASM
CRS-2500: Cannot stop resource 'ora.crsd' as it is not running
CRS-4000: Command Stop failed, or completed with errors.
Command return code of 1 (256) from command: /u01/app/11.2.0/grid/bin/crsctl stop resource ora.crsd -init
Stop of resource "ora.crsd -init" failed
Failed to stop CRSD
CRS-2500: Cannot stop resource 'ora.asm' as it is not running
CRS-4000: Command Stop failed, or completed with errors.
Command return code of 1 (256) from command: /u01/app/11.2.0/grid/bin/crsctl stop resource ora.asm -init
Stop of resource "ora.asm -init" failed
Failed to stop ASM
CRS-2673: Attempting to stop 'ora.ctssd' on 'database1'
CRS-2677: Stop of 'ora.ctssd' on 'database1' succeeded
CRS-2673: Attempting to stop 'ora.cssdmonitor' on 'database1'
CRS-2677: Stop of 'ora.cssdmonitor' on 'database1' succeeded
CRS-2673: Attempting to stop 'ora.cssd' on 'database1'
CRS-2677: Stop of 'ora.cssd' on 'database1' succeeded
CRS-2673: Attempting to stop 'ora.gpnpd' on 'database1'
CRS-2677: Stop of 'ora.gpnpd' on 'database1' succeeded
CRS-2673: Attempting to stop 'ora.gipcd' on 'database1'
CRS-2677: Stop of 'ora.gipcd' on 'database1' succeeded
CRS-2673: Attempting to stop 'ora.mdnsd' on 'database1'
CRS-2677: Stop of 'ora.mdnsd' on 'database1' succeeded
Initial cluster configuration failed. See /u01/app/11.2.0/grid/cfgtoollogs/crsconfig/rootcrs_database1.log for details
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Thanks & Regards,
Jignesh