I have fixed the problem !
Yes, that is correct.
I used the following flags to fix the problem
Option "UseEdidFreqs" "false"
Option "ModeValidation" "NoEdidMaxPClkCheck, NoEdidModes"
For what the options mean, refer - ftp://download.nvidia.com/XFree86/Li...ppendix-d.html
I have also included my xorg.conf file in case anybody wants to take a look at it.