Took it to the nearest service center and found that the "CASE" is the culprit.
The case being so tight caused the touch screen to not respond. The rep just took the case out, blown some hot air (I don't know what tool he used) on the inside of the case and put it back gently. Bingo!! It is back up and running and is responding just fine.
I hope this thread helps others who might see the same issue (especially if one is using a case like
http://www.blujay.com/?page=ad&adid=3029894&cat=8020100)
Moral: Hard reset should be your last resort and not the first.