I have this exact same problem. I added meta noindex to my image attachment pages because my entire site was in Pandaville, and once those pages were out of the index, my site popped back up and has stayed there... but my images are also gone from the index. I don't want to have Google linking directly to the image URL because then my site's template/ads are not showing. I'll gladly accept no images in the index if it's what keeps me out of Pandaville!
I'm looking forward to seeing if this works for you Naveenn!