As the fate may have it, I finally went ahead and bought the non functional NAD C521 CDp at a price too enormous to mention
The cosmetic condition of the CDp is quite good for the price I have paid for it. Though there are a bit of minor scratches on the body, the CDp looks quite fine.
I connected the CDp to the mains and powered it on. The LCD showed me
No Disc message. I promptly inserted an ACD and waited to see what would happen. As expected, it didn't played the CD and the
No Disc message again came up on the screen.
So the next obvious thing for me to do was to open it up. With a few screws missing (which holds the circuit board to the chassis), It was quite evident that it was opened up multiple times. But there was no visible sign of any vandalism inside. At a cursory glance all the parts seemed to be intact. I saw some transistors without heat sinks, though there was provision for a heat sink. I touched them while powered on and they felt cold so I was fine. Apart from it, everything looked fine to my eyes.
Trying to further investigate the problem with the player, I unscrewed the CD tray mechanism and observed that the CD loading mechanism works fine. The problem seemed to be with the Rotational Mechanism. The Lens and Optics also seemed fine to my untrained eyes. The exact problem with the player is that the CD doesn't rotates when loaded. The motor jerks for three times before the No Disc message pops up. I feel it should not be a big thing to fix this problem (just my wishful thinking).
Another positive thing was that the remote of my NAD C350 amp worked for this CDp as well :clapping:
Time for some family reunion photo

hyeah: The CDp sitting on the top of the amp looked so good to my eyes. Even if the CDp doesn't work then also it will act as a good show piece :clapping:
As a plan B,i.e., if the CDp cannot be repaired then I am thinking of buying an amplifier board like
this or a DAC circuit like
this and housing it inside the cabinet.
Any pointers to good CP player repairing mechanic in Pune will be appreciated. A quick Google search has given me some repair centre details but I would like to go to someone who has a testimonial from any of our forum members.
Cheers