@Fabrizio Caldarelli - Thanks a lot for the reply!
I meddled with Rights extension for a day,and couldnt get the hang of it. So i tried the basic AuthManager, with RBAC stil no luck. 
in my UserIdentity (my authentication function):-
public function authenticate()
{
$record= Logindetails::model()->findByAttributes(array('Username'=>$this->username));
if($record===null)
$this->errorCode=self::ERROR_USERNAME_INVALID;
else if($record->Password !== $this->password )
$this->errorCode=self::ERROR_PASSWORD_INVALID;
else
{
$this->_id=$record->id;
$this->setState('title', $record->title);
$this->errorCode=self::ERROR_NONE;
}
return !$this->errorCode;
}
Implemented the business rules as :-
$auth=Yii::app()->authManager;
$bizRule='return !Yii::app()->user->isGuest;';
$auth->createRole('authenticated', 'authenticated user', $bizRule);
$bizRule='return Yii::app()->user->isGuest;';
$auth->createRole('guest', 'guest user', $bizRule);
$role = $auth->createRole('admin', 'administrator');
$auth->assign('admin',1); // adding admin to first user created
Had my controllers accessRules as :-
public function accessRules(){
return array(
array('allow', // allow anyone to register
'actions'=>array('create'),
'users'=>array('*'), // all users
),
array('allow', // allow authenticated users to update/view
'actions'=>array('update','view'),
'roles'=>array('authenticated')
),
array('allow', // allow admins only to delete
'actions'=>array('delete'),
'roles'=>array('admin'),
),
array('deny', // deny anything else
'users'=>array('*'),
),
);
But when i logged in as admin i am unable to view or update. 403 error gets thrown 
Any help is appreciated
…!
Thanks a lot for your time! 
Cheerz!