Unless its made from an entirely different material.. one of the only things I can suggest is that you have an airgap in your thermistor install, or you've got a fractional short (between the thermistor legs, or against the alu block itself).
I also am assuming you've re-run the PID Tuning and set the correct PID values into EEPROM (not that that should cause this fault condition as reported, but hey, its worth confirming right? )....
At 300+, if it was actually 300+, the ABS would be coming out a burnt brown/black molten mess and pretty much free flowing out the nozzle while popping and hissing....
So this leads one to believe its not *really* 300, and instead is simply what your board is reporting.
So then we are left with - faulty thermistor (they are after all, essentially consumables in a 3D print environment), a small short (did you use coductive heatsink paste or something perhaps?) or some other reason for the change in potential for the *reading* of the thermistor such as a whacky connection on the board, or a bad joint in the cable loom...
But in short, I can't see how any fault *in the E3D itself* would produce this condition - only electrical and board side faults.
Use the thermistor supplied with the E3D, re attach it, update the firmware to be Thermistor type 1, and report back would be my suggestion. And make sure its in the small hollow depression - not in the big straight through hole section..
As a minimum, this will also allow sanjay to know you are using his supplied thermistor (no point asking him to trouble shoot someone elses supplied equipment) and therefore help isolate the problem further... BUT.... Sanjay I don't believe can help terribly much, as for this to be an E3D fault, then the metal itself would have to be 2-3 times thicker than it should be or something else completely left of field...or there would have to be a mysterious gap that has appeared between the thermistor and the meltzone to make the thermistor be 300 and the meltzone <260 (in order for the ABS to not be clearly over its safe operating temp)...
I also could be entirely mistaken *shrug*... its been a long day.... 