Status update: the fan was replaced through warranty support.
I purchased a VOSTRO 7510 in 2021 - October from Dell Store in US and Later moved to India.    Recently when trying to change the change the RAID setting from BIOS found a list of logs saying that Thermal Fan 2 stopped responding. I know that both the fan's are working fine and can hear them at times and can feel the heat pushing out.    I had ran the hardware diagnostics and no error was found. Later ran an extensive test and no errors. Ran the same from OS (Support Assist) and it showed as all test passed.   I had re-imaged the PC and updated the BIOS and other divers and cleared the error logs and used the PC for a day and the logs again got generated in BIOS only saying the Thermal Fan 2 stopped responding and this time a new one saying "Fan  The fan failed to respond correctly | Error code: 2000-0712 | Validation code: 74629.   I had completed the International owner ship transfer to India. But before visiting the store for a fix(may be) just want to check is this a common issue or some thing i needed to worry about ? I mean every thing is working fine. But not sure why the error generated in BIOS logs. 
VOSTRO 7510 - Fan Malfunction (BIOS Logs)