After surveying 3 weeks I finally settled on Sansui 1203 DVD Player. Believe me its lense reader is so powerful that the CDs which were useless with other DVD player brands were running smoothly on this.
Biggest advantage is that it gives output of analog 5.1 channel, 2.1 channel along with co axial digital and optical where as in other competitor brands only 2.1 and co axial is available.
This feature makes this player useful even if you get some high quality multi channel amplifier without digital decoder. Picture quality is perfect and it can play jpeg files in slide show mode. Price tag which you pay to get all this added features is still less that other comptitors.
The only flip side is its dimensions and built quality, which can be well ignored if one is buying it for playing DVDs/CDs and not as a decorative stuff. I would strongly recommend it to every one.