Flashing Colibri T20 from SD card - Help

I am trying to flash Image version 2.6 downloaded from Toradex site. (Version 2.3 I have flashed successfully without SD card directly from Host Linux machine Ubuntu 14.04LTS)
First I have formatted SD card using Gparted with FAT32.
Then I have created images in SD card using

sudo ./update.sh -r 512 -v V1_2 -o /media/serpent/4948-B9F5

The card seems ready. Now I have started My development board V3.1A in Recovery mode, and updated uboot to RAM as mentioned in the web page

sudo ./update.sh -r 512 -v V1_2 -d

Now uboot prompt appears on screen as well as on my cutecom terminal.
Now I have inserted the sd card into devboards slot
Then on the cutecome TX prompt I have send

run setupdate
run update

now the module lost its normal boot mechanism and lost.
I can now again flash version 2.3 using recovery mode.
Below is the cutecome log

U-Boot SPL 2015.04 (Jun 28 2016 - 13:31:27)
U-Boot 2015.04 (Jun 28 2016 - 13:31:27)
TEGRA20
DRAM:  512 MiB
NAND:  1024 MiB
MMC:   Tegra SD/MMC: 0
*** Warning - bad CRC, using default environment

In:    serial
Out:   lcd
Err:   lcd
Missing Toradex config block
Model: Toradex Colibri T20 512MB V1.2A
USB recovery mode, disabled autoboot
Net:   Net Initialization Skipped
No ethernet found.

Colibri T20 # run setupdate

reading flash_blk.img
710 bytes read in 14 ms (48.8 KiB/s)
## Executing script at 00408000
reading colibri_t20/flash_blk.img
3173 bytes read in 18 ms (171.9 KiB/s)
## Executing script at 00408000
enter "run update" to update the entire module

Colibri T20 # run update

NAND read: device 0 offset 0x300000, size 0x64
 100 bytes read: OK
crc32 for 00408008 ... 0040800a ==> ffffff00 != 94305232 ** ERROR **

NAND read: device 0 offset 0x15c0000, size 0x40
 64 bytes read: OK
crc32 for 00408008 ... 0040800a ==> ffffff00 != 94305232 ** ERROR **

NAND read: device 0 offset 0x1c80000, size 0x40
 64 bytes read: OK
crc32 for 00408008 ... 0040800a ==> 1eedddaf != 94305232 ** ERROR **

NAND read: device 0 offset 0x7380000, size 0x40
 64 bytes read: OK
crc32 for 00408008 ... 0040800a ==> 0f97aed4 != 94305232 ** ERROR **

NAND read: device 0 offset 0x7900000, size 0x40
 64 bytes read: OK
crc32 for 00408008 ... 0040800a ==> b2328789 != 94305232 ** ERROR **
reading colibri_t20/colibri_t20-512-v12-nand.img
901120 bytes read in 62 ms (13.9 MiB/s)

NAND erase: device 0 offset 0x0, size 0x300000

Erasing at 0x0 --   8% complete.
Erasing at 0x40000 --  16% complete.
Erasing at 0x80000 --  25% complete.
Erasing at 0xc0000 --  33% complete.
Erasing at 0x100000 --  41% complete.
Erasing at 0x140000 --  50% complete.
Erasing at 0x180000 --  58% complete.
Erasing at 0x1c0000 --  66% complete.
Erasing at 0x200000 --  75% complete.
Erasing at 0x240000 --  83% complete.
Erasing at 0x280000 --  91% complete.
Erasing at 0x2c0000 -- 100% complete.
OK

NAND write: device 0 offset 0x0, size 0xdc000
 901120 bytes written: OK
UBI: default fastmap pool size: 200
UBI: default fastmap WL pool size: 25
UBI: attaching mtd1 to ubi0
UBI: scanning is finished
UBI init error 22
resetting ...

U-Boot SPL 2015.04 (Jun 28 2016 - 13:31:27)


U-Boot 2015.04 (Jun 28 2016 - 13:31:27)

TEGRA20
DRAM:  512 MiB
NAND:  1024 MiB
MMC:   Tegra SD/MMC: 0
*** Warning - bad CRC, using default environment

In:    serial
Out:   lcd
Err:   lcd
Missing Toradex config block
Model: Toradex Colibri T20 512MB V1.2A
Net:   Net Initialization Skipped
No ethernet found.
Hit any key to stop autoboot:  1  0 
Booting from NAND...
UBI: default fastmap pool size: 200
UBI: default fastmap WL pool size: 25
UBI: attaching mtd1 to ubi0
UBI: scanning is finished
UBI init error 22
Bad Linux ARM zImage magic!
Bad Linux ARM zImage magic!

ubiboot failed
Booting from SD card...
MMC Device 1 not found
** Bad device mmc 1 **
MMC Device 1 not found
** Bad device mmc 1 **

sdboot failed
Booting from USB stick...
starting USB...
USB0:   USB EHCI 1.00
scanning bus 0 for devices... 4 USB Device(s) found
USB1:   USB EHCI 1.00
scanning bus 1 for devices... 1 USB Device(s) found
USB2:   USB EHCI 1.00
scanning bus 2 for devices... 2 USB Device(s) found
       scanning usb for storage devices... 0 Storage Device(s) found
       scanning usb for ethernet devices... 
Warning: asx0 using MAC address from net device
1 Ethernet Device(s) found
** Bad device usb 0 **
** Bad device usb 0 **

usbboot failed
Booting via DHCP/TFTP/NFS...
Waiting for Ethernet connection... done.
Using asx0 device
TFTP from server 192.168.10.1; our IP address is 192.168.10.2
Filename 'tegra20-colibri-eval-v3.dtb'.
Load address: 0x2000000
Loading: *EHCI timed out on TD - token=0x8008d80
T EHCI timed out on TD - token=0x8008d80
T EHCI timed out on TD - token=0x8008d80
T 

Please help me to identify what is wrong.

Thanks. Worked!

Can you retry flashing step as per the procedure described here?