Its not new that there is quite some chaos regarding the fastboot mode on our device. Though some could access it, others could not. All that would happen when I tried to reboot into bootloader was that it would get stuck on the boot logo. Many said that the bootlogo itself was the fastboot mode. However lsusb on my linux term would not recognize anything attached. So I was quite sure there was some issue. Recently when I was having a chat with Nori, I could confirm that the same. It so happens that when he boots into fastboot mode, there appeared a tiny text at the left bottom of the screen would appear saying the device was in fastboot mode.
A little bit of research and experimentation, I figured out that there was an issue in the appsboot image on the Indian version. So, I flashed the Taiwan version of the aboot on my device and VOILA! I had fastboot mode! Here is how you can get it.
BEFORE I GO ANY FURTHER, I MUST WARN YOU THAT THIS IS HIGHLY RISKY IF DONE WRONG! THERE IS A RISK OF HARD BRICKING YOUR DEVICE! AND I AM NOT RESPONSIBLE FOR WHATSOEVER THAT HAPPENS TO YOUR DEVICE.
1) Head over to http://184.108.40.206:808/gplus_e7/E7_0301_v5832_IMG/ or here
2) Download the aboot.img and save it to the root of your sdcard.
3) Open up a terminal emulator or adb shell and type in the following code.
su dd if=/sdcard/aboot.img of=/dev/block/platform/msm_sdcc.1/by-name/aboot
(sorry for all the dust.. should have viped it I guess.. well, atleast shows how good the camera is..)