Emacs 23.1.1 : Screen-repaint issue during I-search on RedHat AS3

[RamTG <ramkumar.tg@gmail.com>]

GNU/Emacs v23.1  has screen repaint issues during I-searches, on
RedHat Linux - AS3.

Sometimes a few lines near the bottom of the Emacs window, including
the mini-buffer
and the mode-line, do not re-paint properly during I-search.

OS : Red Hat Enterprise Linux AS release 3 (Taroon Update 9) RedHat
GNU/Linux - AS3
     Linux 2.4.21-50.ELsmp #1 SMP Tue May 8 17:18:29 EDT 2007 i686
i686 i386 GNU/Linux

Start up options : -q --no-window-system

Terminal :  PuTTY 0.60 on WindowsXP

Other Info :
In GNU Emacs 23.1.1 (i686-pc-linux-gnu)
configured using `configure '--without-x' '--without-sound' '--without-
xft''

Important settings:
  value of $LC_ALL: nil
  value of $LC_COLLATE: nil
  value of $LC_CTYPE: nil
  value of $LC_MESSAGES: nil
  value of $LC_MONETARY: nil
  value of $LC_NUMERIC: nil
  value of $LC_TIME: nil
  value of $LANG: en_US
  value of $XMODIFIERS: nil
  locale-coding-system: iso-latin-1-unix
  default-enable-multibyte-characters: t

Major mode: Emacs-Lisp

Minor modes in effect:
  menu-bar-mode: t
  file-name-shadow-mode: t
  global-font-lock-mode: t
  font-lock-mode: t
  global-auto-composition-mode: t
  auto-composition-mode: t
  auto-encryption-mode: t
  auto-compression-mode: t
  line-number-mode: t
  transient-mark-mode: t


Recent input:
C-x C-f ESC DEL ESC DEL . e m TAB TAB . TAB DEL RET
C-s s e t q C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s
C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s
C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s
C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s
C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s
C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s
C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s
C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s C-s
C-l ESC x C-g C-g ESC < C-x k RET C-x C-f ESC DEL ESC
DEL . e m TAB RET C-s s e t q C-s C-s C-s C-s ESC x
r e p o TAB r TAB RET