Hi Kishan,
If that module is required to be statically linked then it MUST be included in the kernel and not as a module. What I mean is that in the kernel config, you should not set it to <M>(can do insmod with it) rather than
it should be <*> (build statically with the kernel)
If that does not work out,
Please try doing the same customization with a eglibc image. I am not sure if that is the solution but it is worth giving a shot.
If you use debian 7.5 you can use the link that I provided above. Simply download the script file, change its permissions to executable and type ./build_clanton.sh
It will automatically build an eglibc image. You can try kernel config on that image.
Make sure you have enough hard-disk space.