1.Should i go for a Intel Based Core i7 920 or save some money there and opt for a AMD Phenom x4 940 with SLI
Doubtful if you can assemble a Intel Core i7 system, in 60K. It can be possible without SLI/Crossfire and no monitor. The CPU/MB combo only will cost you about Rs 30K and you may need enough RAM (about > 4GB).
2.If AMD plz suggest me a good mobo (upto 10k) for OC'ng
I will suggest a MSI 790GX-GD70 or MSI 790GX-G65. Both of them are very good. MSI 790GX-GD70 will cost about Rs 11K+tax and MSI 790GX-G65 will cost Rs 9300+tax. I own a MSI 790GX-G65 and it is very good, but I am not overclocking. Read the reviews for this board and you will find it rated good.
5.Moniter - Asus VH242h 1080p .. howz this ?? any other better moniter ?
Dell has decent and cheap 24inch monitors. Even HP has 24inch good monitors.


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