I verified that the wifi is working fine with official image. As i required SPI to be enabled, I want to recompile the SD kernel image. I have compiled the kernel successfully and booted the OS with the kernel that I have compiled, but found that the WLAN0 that was present earlier is not showing with ifconfig command.

Here is what I did.
git clone git@github.com:wandboard-org/linux.git
git checkout -b wandboard_imx_3.10.53_1.1.0_ga origin/wandboard_imx_3.10.53_1.1.0_ga
make wandboard_defconfig
make menuconfig
make -j8
Inserted ubuntu SD card into host PC.
sudo mount /dev/sdX1 /mnt/temp
sudo cp arch/arm/boot/zImage /mnt/temp/boot/
sudo cp arch/arm/boot/dts/*-wandboard.dtb /mnt/temp/boot/
sudo umount /mnt/temp/
The good thing is that after some modification as suggested from viewtopic.php?t=1197 I was able to get spidev32766.0 in /dev.

Please help me to make the wifi also working. I couldn't figure out what happened to Wifi!!
Note: I am using Wandboard Dual Rev C1