Hi Vivek,
We do use log shipping as a replication standard, steps are quite simples :
1) set 'trunc log on checkpoint' option to false on the replicated database (Main side)
2) Perform a full dump
3) load the full dump on your target server and complete the operation using online for standby access
4) perform dump transaction on Main side
5) load the transaction file on your target server
Using a NAS device or NFS virtual microsoft server is a good practice for your files repository, we also perform backups on our stby server in the same loop.
Obviously, servers should allways ping each other and send alerts in case of network issue, but our system is asynchron .
Compare dumptrdate on sysdatabases between your 2 servers to check out the replication gap.
It took me some months to have a stable system but I'm not a shell specialist.
Good luck