Hey Guys,
Thanks for your responses. I bought corsair GS700 (5.7k here). tried it on but have the same problem
.. It's still stuck in the bios loading page.
I googled and did bios update.. bios reset.. bios re-install.. updated ati catalyst drivers.. still no use
. .
I tried HD7950 with a friends MSI - p7n platinum mobo and had no problems there. :/
My guess is its the problem with the bios in intel mobo. . some update to do with pcie 3.0 .. There is no update from 5/2012 . . :/
or is it something else ??.
@ rock2702
I got the gfx card thru amazon. Had ordered it to my aunt's place and she brought it here.. cost me around 19.7k something. .
@rajnusker
Well yeah. . seems to be working with cx500 too :/ . . I had to assume that stopping at bios page was due to insufficient power.. so had to buy GS700
Finally !!!! Found a way though !!! 
1. I plugged my old hd 5770 in the primary pci adapter (with hdmi cable attached) and the hd 7950 on the secondary adapter (no video out ).
2. Powered up the 7950 with the 8 and 6 pin cables , the 5770 with molex to 6 pin adapter.
3. Switched on my pc. Both cards started running as expected.
4.
Bios worked as it chose my 5770 as its primary display adapter. Bios also showed my 7950 in the second slot.
5. Went inside windows. My catalyst controller shows both graphic cards in the hardware information. (Primary adapter:5770, Disabled adapter:7950) So no problems with the cards.!!
6. To check if my 7950 works properly, i unplugged the hdmi cable from 5770 and plugged it in 7950 while still operating in windows, and it worked !! Display worked fine, videos, games worked.
But still my problem wasn't over, cant keep swapping hdmi cable from 5770 to 7950 every time i switch on my system. so next,
7. I uninstalled all ATI drivers while still using 7950.
8. Restarted the system, with 5770 still attached. Now since the hdmi cable was plugged to 7950 and 5770 still on the board, bios somewhat accepted both the cards and let me through to windows !!! the problem here is that
bios needs my 5770 
and so it flew past bios and i landed directly onto the OS selection screen ( i use win 7,win 8 and Ubuntu ).
9. Went inside windows and installed the latest drivers.
10. Now my catalyst controller shows primary adapter as 7950 and disabled adapter as 5770.
To sum it up, I still need a latest bios update for my board, till that time i can keep using this AWESOME card. The 5770 is eating up extra power, i have to find a low performance, low power consumption old gen card to replace this. And to go inside bios i have to remove the 7950.
(going into bios is definitely not a daily routine. so it shouldn't be a problem)
My cabinet is
packed !! Need a bigger case which i will get in due course of time. For now the card is working just fine
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Thanks a lot guys for your help. But i do need suggestions for bios updated !!
i am already running sapphire hd 5770 on corsair cx500v2. 
