I tried both the old and new RAM individually in another machine both of them work perfect in that machine.
I tried either of the rams in the DIMM 1 slot/ I tired both of them in either or DIMM 1 & 2 slots/ I tried the DIMM 2 slot
For a few minutes the system booted normally with both the RAMS in the motherboard, that was very odd, and then it stopped .
I checked the PSU by shorting the 4th and 5th pin. that works OK.
I removed the pins that connect the cabinet power button to the motherboard
and started the system directly by shorting the two pins
the system starts, but does not stop if i keep the pins connected for 5 secs.
I do not know how to check if a mother board is faulty or not, so that's going to be a hassle.