Thank you Lowell for the detailed explanation. 
@Grant and @steve-2 , Many thanks for your valuable  inputs , it will help me in making an informed decision .

Hi Gail,

The size the DB was initially 50 GB , not it has grown to 150 GB even after deleting the unnecessary data. Managing the DB with 150 DB is...

Hi John ,

Will try your suggestion .Checking on the test server will give me exact timelines and will help to lessen the impact on prod server. Thanks for your valuable...

Hi Gail ,

The MDF size had increased exponentially after the archiving was stopped . Once the data was archived the space allocation is still there , hence the need for...

Hi John ,

Many thanks for your response. The DB services requests from all over the world and unfortunately i have a small window of 2 hours which i think will...

Thanks Anthony and Phil for your suggestions !!

The prod server data gets moved to the archive DB. Now on the secondary server i only need need 1 DB . I...

Thanks Jeff, JackDBA,George and PretendDBA for your valuable suggestions.

I will mostly go with logshipping in read only mode .

Appreciate all your help !

Hi JakDBA ,

Thanks for your suggestion . We do not have a dedicated resources and experience to implement and maintain always on .

Hi Jeff ,

Thanks for your valuable...

Did you check SQL errorlog/event logs to see is there was any corruption or any other issues ?

Also do run the DBCC checkdb command.

Thanks for your reply . If i go to add another endpoint it gives me below error :

Msg 7862, Level 16, State 1, Line 1

An endpoint of the requested type...

Thanks Grant for for advice . The issue has been identified . withnoinit command was part of the backup job which was causing to append the backup file to the...

ownerdbidcreated status compatibility_level

sa 5Jan 31 2014Status=ONLINE, Updateability=READ_WRITE, UserAccess=MULTI_USER, Recovery=FULL, Version=706, Collation=SQL_Latin1_General_CP1_CI_AS, SQLSortOrder=52, IsAutoCreateStatistics, IsAutoUpdateStatistics,...

Thanks for your reply . I m taking backup of the right db. I have even taken a independent backup via command line. But the problem persists. Will appreciate...