Yes this problem mainly occurs due to either of the two following errors.
- The Windows Boot Manager (Bootmgr) entry is not present in the Boot Configuration Data (BCD) store.
- The Boot\BCD file on the active partition is damaged or missing.
You can check it out by the CMD prompt. Just navigate to rootdirectory\Boot directory and look for the BCD(Boot Configutation Data) file using the command prompt in Windows 7 and look if BCD file is present or corrupted. For resolution follow the steps in the link given below.
Visit this official Microsoft link to resolve this problem.
http://support.microsoft.com/kb/927391/en-us