So I took it in my own hands to fix the problem... And I DID...!!!
I've attached the TaskManager.apk. All you have to do is place it in /system/app/ with permissions rw-r-r and reboot.
Note: I've tried many times to install it as normal app but it never works.
EDIT: User txtmikhail tested the app on CM7 and it works.
*EDIT: Thank You erpurohit for the flashable zip.
Now you can just flash the zip from the recovery. Since it's a universal flasher, a backup flashable zip will be automatically created to revert back if needed.
Download the zip from HERE.