Skinning
And the final step of rigging, skinning of the bones with the mesh is being done. Yes it was really a slow process and needed a lot of patience and understanding of what is done and why it is done. These are the screenshots of my skinning and final outcome and I'm very much happy on seeing the result. First I tried to do the INTERACTIVE BIND method and it did'nt work very well and finally the normal SMOOTH BIND was the one that helped me.
Posing
After painting weights I tried to take an image from online and copy the pose to my character