Unable to boot from captured golden WIM

I captured VHD from Azure VM (After sysprep and shutdown). Downloaded VHD (127BG) and I created WIM from VHD. Now my WIM size is 11GB. I booted a phyical machine on WINPE and created MSR, EFI and primary paritions (Manually) and I tried applying (manually) the Wim. It is successfully applied. I created boot record manaully by running the following command,

C:\windows\system32\bcdboot Z:\EFI\Microsoft\Boot\

I get a msg successfully boot files created.

However, when I try to boot the device from hard drive I get the attached/below error.

All I am trying to do is, capture a golden WIM from Azure VM and apply it in autopilot.