We had opened the CISCO TAC case to understand more about this error, But based on search we found that this Error was most Probable cause for MAC address Loops as result of STP Topology failure .
This is based upon the following Cisco BUG related to error Log that was seen
On switches running Cisco IOS Release 12.2(35)SE or later, connectivity issues might occur with these messages:
%SUPQ-4-CPUHB_RECV_STARVE: Still seeing receive queue stuck after throttling
At the moment For 3020 Switch, this is open Caveats for the cisco IOS Release 12.2 (35)SE . And there is no work around for this. (Please refer the following release notes :-