Have you checked with one ram stick at a time in every slot? If out of two ram sticks one is faulty then too the system will not post & cpu & ram led will remain red.I am using dual channel RAM i.e 8GB x2 ram sticks.
Which processor was it?In my scenario it was a faulty process which was DOA as it never worked. No issues on motheraboard side. Also Intel service center said that sometimes this can happen .