For the ease of others, I have made the above script as CWM flashable update zip. BUT before using this flashable zip, make sure you do not have an existing customboot.sh in place as this will overwrite it! Nandroid backup first to be safe (always a good practice). I will not be responsible for whatever it does to your phone.
Only download after you have understand the above.
Download from: http://www.box.com/s/000684327a5035932167
Brilliant work ! The zip worked perfectly. Thanks.