I am currently pursuing an MSc at a reputed univ & would love to do a PhD in Image Processing and Multimedia. The problem is though I secured a distinction in my first semester here and have good academics right from higher secondary, I am unable to secure any funding for my PhD, say not even home fee and maintenance. I am an overseas student. Becoz of the delay in procesing my application, I couldnt apply for ORS. I am really confused and disappointed :(am I expecting too much?) Any one has any suggestions?

I'm afraid you are probably expecting too much. Obtaining funding for a PhD in the UK as an overseas student takes time, planning and plenty of good fortune. You may find that waiting for twelve months before starting your PhD is a good idea, as this will give you time to apply for an ORS award.