hardware prob

Tryed to boot without ram ? Take out vedip card and try to boot

Video Card, Hard drive, Power supply, Bad memory chip

start dismounting everything starting with the videocard - try to replace it with another one , proceed thru the memory chips and so on

Does the monitor receive power at all? Try turning it on without a connection to the video card. Make sure the speaker wires are connected to the proper front panel display pins.
If all of that is good be sure you have a big enough power supply to run your system. You mentioned that the CPU is receiving current. I assume that you say this because you see the fan running. Unfortunately, this does not mean that the CPU is receiving any power. The fan will receive it's power as a priority over the CPU for obvious reasons. Check your P/S.
~ Later,
Dave

open your cpu casing,find the manual of your motherboard and look for the clear cmos jumper.
or if you don't have the manual, locate the CMOS Battery,look for the jumper it usually have 3 pins with the two covered by a small black pin,remove then put on the other side where the open pin now will be covered and the last pin that previously covered will be open..wait for about 30 seconds and then return the cover again.reboot and update the cmos setup

remove the memory chip & then boot. if u get multiple beep trying removing display card. but if u don't get beep even after removing memory & ram. then it is problem with the smps or the mother moard