Hello Partha,
Welcome to the Pain Management Forum. I am sorry for my tardy response...and sorry to hear about your painful symptoms. Please be aware that there are no physicians or experts on this forum.
My knowledge is limited in MRI interpretations. I can tell you that based on what I know you have many reasons for pain. You have several areas of "diffusion, compression and narrowing." All of these areas can produce pain independently and will require treatment. In the meantime I hope you are receiving medications to manage your obvious pain and symptoms.
I suggest that you consult a neurosurgeon. I am not suggesting that you require surgery. However a good neurosurgeon will offer you the best diagnosis and prognosis.
We also have a new radiology forum where you may want to copy and paste your question. Here's the link:
http://www.medhelp.org/forums/Radiology-/show/905
I wish you the very best and hope that you will let us know how you are progressing. I will look forward to hearing from you again soon.
Best of Luck and Take Care,
~Tuck