Download the official Micromax Canvas Tab P702 flash file
SP Flash Tool : Quick Points
Try to use Firmware Upgrade option to initialize Flashing.
While, loading Firmware in SP Flash tool.
Untick Preloader, which held responsible for Mobile life. If this file get corrupt, your Micromax P702 will be dead.
Make sure to install Mtk driver to make communication between Mobile & PC (Flash tool)
While, installing Stock ROM. If the process get interrupted, it will result in Android logo with exclamation mark.