BASSMASTER thats the whole problem
... I can run memtest only after booting up it when goes to that stage where floppy or cd drive is checked, but it doesn't. CPU does start but nothing comes on the screen, instead the monitor says 'Monitor is working, check your pc or cable'. when I put my old ram in, it runs the memtest, no problems.
About the no brand thing, you see its from ebay, and I thought as that seller had tons of positive feedback, it would be ok.