Thanks for those comments. But I had used the same Live CD to install Ubuntu on the same system some months before. Now, because of some other issues I wanted to reinstall it. Then only the problem had cropped up. I have tried a newly burned CD (burned at 10x, that was the lowest my system could cough up) also, but in vain. I even tried Live CD of Mandriva One just to check. But it also does not complete the boot. I guess the problem is much deeper.
And yes, I have tried the same Live CD on a couple of other machines. It works.
Last edited by pradeepbp; 04-27-2010 at 12:51 AM.
Reason: added more information