Well,
Thank You Steve and Saji. Atlast, my problem is solved and Im glad for all your help. I finally fixed a HIN232CP chip in place of MAX232 since both the pieces we received were damaged. So, I read the data sheet of HIN232CP and it recommended using a 1µF capacitor. Now, I've made the board and also programmed many chips with it. So guess everything is settled.

Warm Regards,
Harsha.