Hello fahad,
I just ran a software advisor for your requirement, and found that the following IOS software fits fine for the 2 Port RJ-48 Multiflex Trunk-g.703 module... I was actually searching for a ipbase image..
1) 12.4(9)T2
2) 12.4(8c)
3) 12.3(11)YK2
4) 12.3(14) T7
You need to have these IOS to run this module.. what IOS feature set do you have now? change the IOS, and it should work fine..
Hope this helps.. all the best..
Raj