Hi Mehta,
The answer is quite difficult, because it completely depends on the preferences of the listener. Do you prefer heavy bass? Do you listen to classical music? What kind of soundstage is preferred? etc.
Over the course of the last few years I almost purely used Sennheisers, going from the Sennheiser CX-300 to the CX-300II and now the CX-400II.
I can pretty much recommend them, I think they are really nice overall, but do have a slight bit of tendency to overpower in the bass deparment (just a bit!).
Overall, they give excellent quality for the price (which can be closer to