I decided to do a fresh install, but even booting from USB resulted the same. Then I decided to remove AppleIntelCPUPowerManangement.kext, but I can't even access terminal.
Here's the solution:
My machine dual boots Windows and Mac.
- I logged into Windows
- Installed MacDrive, trial version
- Rebooted into windows and opened the drive on which Mac is installed
- Did two things, don't know which one helped:
And deleted AppleIntelCPUPowerManangement related kexts from this directory:
I found two kext folders related to it and deleted both.
Rebooted without any boot flags and voila. It worked.