Adhith,
Is this something you would like to build or are you just studying it for fun? At first glance it looks like a fairly crude circuit and it will be relatively noisy.
If you are hoping to build something it's a great idea with something that is known to perform well and sound good. Again, I point you to Douglas Self who has a fantastic book called "Small Signal Audio Design". If you only have one book on audio circuit design this should be it. He details many EQ circuits starting with some very basic ones and gives the background on the component choices etc.
Re your previous question on crossovers, take a look at the Rane 2/3 way design I've attached. Cost effective and well done like a lot of their older analog gear.
Are you a member over at GroupDIY? If so take a look at the Studer 169 EQ project, simple and known to sound good.
Cheers,
Ruairi