I have connected a serial cable back-to-back from a FC-12 machine to FC-6 machine.
FC-12 (linux-2.6.31.5) host and FC-6(linux-2.6.23.13) target

FC-6 : minicom-2.1-3.i386.rpm
FC-12 : minicom-2.3-8.fc12.i686.rpm

Kernel command line in the grub.conf on the target is
kernel /vmlinuz-2.6.23.13 ro root=/dev/VolGroup00/LogVol00 rhgb
console=ttyS0,38400n8 debug

On the host side my minirc.fc12 is
pu port /dev/ttyS0
pu baudrate 38400
pu bits 8
pu parity N
pu stopbits 1
pu rtscts Yes

Problem:
When I boot my target, I am not seeing logs on the minicom terminal. Though, I am able to see the boot messages on the Windows
hyper-terminal when I connect the target to Windows machine

I have toggled with hardware flow control, but in vain.

Can anyone help me to resolve this.

Thanks,
Prabhu

Is the host setup as a dual boot PC?
From what you posted one might assume that the FC12 and windows PCs are not the same. Are you using the same cable?

No, host setup is not a dual boot PC.
What I meant was. When I connected the same target to another host machine with Windows XP. I could see the logs on the hyperterminal.

Yes, I am using the same cable

Thanks
Prabhu