Here is a Lava Iris 501 Stock ROM Firmware which can be used to load and flash stock firmware on any Lava Iris 501 of this exact variant. Any MTK Flash tools can download and flash this Lava Iris 501 flash file on your Iris 501 so long as that MTK Flash Tool supports MTK Scatter File.
Since most major software malfunctions on any MTK Android devices can only be corrected by flashing, this Iris 501 flash file, if properly used, can unbrick (debrick) your Iris 501 and also corrects any software issues your Lava Iris 501 may currently have. Also, keep in mind that when you load stock firmware on your Lava Iris 501 using any MTK flash tool, your Lava Iris 501 will be reset to factory defaults settings and by that, definitely, your UserData will be lost including contacts, messages and others.
Note: If your Iris 501 is already bricked and you want to unbrick it, you will need to pay closer attention to the tutorials contained below here.
Lava Iris 501 Stock ROM Firmware Download Link(s)
1. Lava Iris 501_S111_20130403 Stock Firmware Download Link
2. Lava Iris 501_S112_20130618 Stock Firmware Download Link
How to Flash Stock Firmware On Lava Iris 501
1. Download your Lava Iris 501 stock ROM firmware from the link above.
2. Extract the Lava Iris 501 Firmware you downloaded from the link above onto a folder on your PC.
3. Download and install MTK android device drivers on your PC. You may skip this step if you have installed MTK drivers on your PC already otherwise, download MTK drivers here
4. Now, choose either of the tools listed below here to load the stock firmware on your Lava Iris 501.
2. NCK Box
3. Miracle Box
See video tutorial here: How to Flash MTK Android Devices Video Tutorial
Note
1. Each of the tools listed above contained step by step guides with illustrated pictures on how to flash stock firmware on your Lava Iris 501.
2. If your device is bricked already, I recommend that you use NCK Box or SP Flash. Both are the safest toolS for flashing MTK Android devices.
3. If you require any further assistance, simply drop your comment detailing the issue(s) and I shall help you revive your Lava Iris 501, if need be.