I talked some time ago about ways of getting round a BSOD on NTFS.SYS with Stop Error 0×024 and a similar message you may experience in Windows XP may be the “Missing or corrupt Ntfs.sys” start error upon boot. If you have your Windows XP disc handy there may be a way for you to fix this problem – however use this technique with care.

• First off, boot your computer from the XP disc and you will be presented with a number of options
• Select the option to run a repair of Windows XP using the Recovery Console
• This will launch a limited command prompt
• At this command prompt change to the drivers folder (cd windowssystem32drivers)
• Rename the file called ntfs.sys to something like ntfs.sys.old
• Change to the CD Rom drive and copy the ntfs.sys file from the CD to the location above
  it is located in the i386 folder on the CD
• Eject the Windows XP CD
• Type quit from the command prompt
• Reboot your computer to see if it now boots up

Update: If you are experiencing this error as a result of converting your FAT-32 drive to NTFS you should take a look at the Microsoft Knowledge Base article 822800 titled “Missing or corrupt Ntfs.sys" error message when you restart Windows XP after you convert your hard disk to the NTFS file system