Hi,
After searching a lot , finally i found a shared hosting site www.webhostingpad.com.
I wanted a hosting site based in US/Europe so that ping & relay time is less and loading of the pages is fast. Moreover, i wanted 100% uptime and cheap hosting space.
After using webhostingpad for about 3 months i can say is that only once my website www.jollyhealthcare.org got down due to excessive server load on 29 Jan 2012.
But to my surpise the response from 24x7 customer care was satisfactory and fast. The executive told me that in next 1 hour the problem will be resolved and it was :)

So, guys go in for www.webhostingpad.com for cheap and best offering.

Avish Jolly
www.jollyhealthcare.org
WHO-GMP Certified Pharmaceutical Merchant Exporter