Ok I have flashed the Demo Ubuntu Image from Freescale's website on the MMC card and I am booting the iMX51 EVK through MMC1. With the following settings at U-Boot, I was managed to run the display on WVGA screen
U-Boot > setenv bootargs_mmc 'setenv bootargs ${bootargs} console=tty0 video=mxcdi1fb:RGB565, CLAA-WVGA, di1_primary root=/dev/mmcblk0p1 rootwait rw'
However, the touch functionality is not working.
Can anyone suggest any possible solution.