Hmm I am guessing you won't consider a
Panasonic 50inch VT plasma for 72-75k with 3D glasses + 3 years warranty??? Apparently this
tv was voted the best tv for 2010 by each & every tech website out there... Avialable @ croma outlets although they will quote you a price of 80K, you have to negotiate & get the price to 72-75K... Another plasma option is the
Samsung 51inch D550 for around 62-65K with 2 3D glasses... Another good tv with the best SD PQ... Anyway if you want to follow the herd of led buyers then I would recommend Samsung46" D6600(over ur budget) or the 46" D6000 within your budget... If you want to buy a cheap 55" led then you could try out the VU 55" led available for 90-95k in croma... Decent quality tv but buy extended warranty with it just in case...
PS each & every salesmen you talk to will recommend you stay away from plasma as it is an "OLD" technology... Of course you can go to numerous tech websites on the net & all will tell you plasmas produce better PQ than LEDs... If it still bothers you then I guess you should go ahead & buy an LED

...
PSS another wild option I would like to suggest... Buy a 1080p home theater projector(HD20) & a decent 100" screen... This should cost you less than 70k if u buy from the grey market & less than 1 lac if you buy it with bill & warranty... If you calculate then a 100" projector screen is 4 times bigger(yes you heard me right 4 times not 2) than a 50" TV... You could buy a cheap 32" LCD along with this to watch news & quick programs & for leisure viewing watch on a bigass 100" screen

... For projector I would suggest getting a Optoma HD20 ... For quality of these projectors I suggest head to YouTube & search for demo clips... Loads of them have been posted & you will find the quality very pleasing...
BTW what I have suggested is basically what I am gonna do in my house when it gets renovated next year... Although I am looking into a 150" screen

...
EDIT
Just attaching a video to further my point
https://www.youtube.com/watch?v=xdvfzCHznWE&feature=related