Hi bujji, you may want to remove all peripherals and memory, and only with the processor in the socket, do you get any beeps or blink codes as indicated in the article below?
http://www.intel.com/support/motherboards/desktop/sb/CS-010249.htm Desktop Boards — BIOS Beep Codes
Was the system working before? If yes, did anything change from the moment it was working?
What steps have you tried to correct the issue?
Please provide more information about the components you are using in this system: processor model, memory part number, power supply wattage, and any other peripherals.