Here is a link to the IC MLX 10407 used...
MLX10407 circuit , Typical application Application Circuit
It is the Red marked IC....

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I tried shaking the connector but it did not help. And unfortunately, my electronics knowledge is limited to led's and resistors. Did not go beyond that. I have seen a couple of shops which work on speedometers here. Let me head there this weekend. Will keep you posted.
Did not know the purpose of the handle bar weights till now. My bike has those plastic caps on the handle, the ones which come with the Unicorn. This weekend, sat with my friend, fitted the weight rods inside the handle bar and attached the weights of the ZMR. Vibrations on the handle bar are considerably less! The difference is very much noticeable. 

Tried with choke, without. Putting to reserve. Nothing! Let it for a few minutes and then kicked. Voila! Started!
Then went ahead and then came back without any issues. What could this be? The stuck valve thingy?


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