that's the ignition coil..It provides a high voltage to the spark plug...Well if it was the problem, then your bike would not have started even after the bike zone people had checked it..is it raining there???coz it could be water in the electricals making the electricals fail temporarily..and even after you change the coil and it's a different problem, you would have wasted money..Seems like you ignored my advice of plugging in a different CDI from a friend's bike and checking..

Shubhanker, Yes it has been raining heavily here. When the bike stalled, I let it out in the sun for about 3 days and the bike started alright. I had brought my car, so I decided to take it back the next day but it rained so damn heavily it could easily wash away boulders. When the rain stopped, I tried starting it, with no hope, and it never started either. Now, even after 5 days of drying (under a roof) it doesn't start.

What electricals do you think waters might have got into? This ignition coil looks completely sealed.

I would have happily tried replacing the CDI, but I do not have anyone I know who owns a Victor (it is so out of style and not in production).

Hey all, sorry for not posting an update to this. I am happy to say that my ride is back on the road. It was, like Shubhanker pointed out, a problem with the CDI. They replaced it (along with their standard 'additions' like oil change and blah). It cost me a neat Rs2200/-, which is on the higher side, but it beats the cost of a new bike by a huuuge margin!!

My next project would be to pry open the old CDI and see why the heck it failed!