OK, so the car in question is my dear friend's 2008 Model, Ford Fiesta 1.6 (P) Sxi, with 48,000 clicks on the odo.
For the last of three or four months, the car was behaving strangely, at times. ie, it would not really revv over ~2k. And would turn completely sluggish. And sometimes the ECL was ON.
The problem was not permanent, it would come for some say.. 30mins.. and disappear for a month, and then reappear for 15 mins.. and then disappear for the next couple of weeks. As it was not a permanent issue, he decided to let it be, till he got enough time to take it to the service center.
However, since the last couple of weeks, the issue got worse, and would turn up unexpectedly at very inappropriate moments, like in traffic,overtaking etc.. As the ECL was coming ON, I decided to plugin the OBD and see..
And, got this:
As mentioned by Torque it was an issue with TPS, and prolly the MAP or so.. So, decided to clean the TPS and MAP and Throttle body. The problem vanished, however, returned after a body wash. So, it was clear that water was doing the damage. Now, to check what and where water was doing the damage, we dried the engine bay, cleared the error, and started pouring water on each sensors from the outside, like while washing!

and, voila!!.. It was the TPS, that was the culprit.
Now, the TPS, is inside the Throttle body and is well sealed. So, there is only a very remote chance of the sensor itself to get damaged. So, the connector was the suspect, and turned out that the green washer like thingy inside the connecter, which prevents water to enter inside was broken, and water was coming in causing the error.
I sealed the connector properly, and have not faced the issue for the last ~1,000 kilometers! So... the problem is expected to be solved!
Note: This vehicle was taken to the A.S.S to rectify this issue, and what they suggested was to replace the Throttle Body (16,000 Rs) and the Engine Wiring Harness (25,000 Rs) 
.
The 41,000 rupee problem was solved using 10 rupees!
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Now, I managed to source a good connector. However, changing the connectors means cutting of wires.
I have a question for fellow bhp'ns/experts:
- Since the sensors read very minute change in voltages/currents, will cutting of wires change the overall wiring resistance, which might lead to incorrect readings of sensors?
- Is there something else that I have to take care of for error P2135 & P2176 ?