Finally got to know the name of the flower. Its called Dhak or Palash in Haryana where I clicked this. In Hindi it is called Palash in most parts of India which means flame of the forest, rightly so. Once the flowers cover the whole forest, it seems like a flame.
Scientific name: Butea monosperma, Butea frondosa
Family: Faboideae / Leguminosae / Papilionaceae
Credits: My friend Rakhi who helped me with the "research" (wish she had a link I could point you guys to :P) and http://www.toptropicals.com/html/toptropicals/articles/trees/butea.htm