Dear friends
 I have bought ARF 525 Kit with KK 2.1 Controller(Its almost complete set except the battery and Tx,Rx) of a quadcopter. Its really beautiful.
 
                                          Thanks Satya Guptada for your support.

But I need some of your help. From some websites I have seen that during the calibration of the four esc-s the red wire of the three pin signal connections has to be opened of three of the four esc-s http://www.quadkopters.com/product/simonk-esc-30a/ . But I cannot understand when I shall connect the esc-s three pin signal wires to the KK 2.1 flight controller is there any requirement to remove the red wires of the three esc-s ? If not, then is there any requirement to remove the three red wires of the receiver connectors? 
    My esc-s are SimonK 30Amp esc-s .
I have another question. How can I connect the Battery to the KK2.1 board? Is there any requirement of Battery Eliminating Circuit here?
 

i dont know about kk2.1 but i know that your esc has a battery eliminating circuit and you can use that(correct me if im wrong).and how much did you pay for the kit???

Dear Rohan
 I have payed Rs 9055/- (inclusive VAT and free shipping cost) .
   Most probably my esc-s have inbuilt  BEC.

The ESC, apart from receiving signal from the FCB, also powers up the FCB itself.
Connecting 4 ESC's to the FCB  translates to providing power (to the to the FCB) through 4 different sources which at times upsets the electronics onboard.
When that happens you will see weird things like ESC's getting extremely hot even at 0 throttle!

Therefore it's advisable to keep just 1 Power source and get rid of the remaining 3.
To do it, just remove the middle Red wire from 3 out of 4 Esc's.

Tip: Don't cut it, Just remove it and heatshrink it like the following video:


BTW, this is NOT something that we do while calibration. It's something that you should do while building your multirotor and let it always stay like that.

How to built a bicopter

I dont know whether it can help u or not. U can check the link on youtube https://www.youtube.com/watch?feature=player_detailpage&v=7zKTtPawq4Q#t=63

How to make esc n does kk board is required for bicopter

Avigyan, KK board gets the power from your ESC, the red wire that coming out of ESC (that you connect to the KK board is the BEC connector which also gives 5V supply)

To calibrate the ESC i recommend 2 methods

1. Calibrate each and every ESC individually by connecting them to receiver
2. Calibrate them all together via KK board. (dont need to remove the red wire cos if you do that board will not get power)

Thanks very much for the appreciation of the KIT

Thanks Satyada for your suggestion. But if you kindly provide any drawing it will be better for me.