1. A method for correcting distortions in a multimedia content comprising a set of temporal images, the method comprising: decomposing each image of the set of temporal images into one or more patches and creating one or more sets of temporal patches wherein each set of temporal patches comprise of patches present at similar location in each image of the set of temporal images; hierarchically parsing each set of temporal patches, wherein the hierarchically parsing comprises: generating a set of background components and a set of error components by processing the set of temporal patches by applying a Low Rank Matrix Decomposition by utilizing a first Lagrange's parameter; and identifying one or more moving objects based on the set of error components corresponding to each of the set of temporal patches by processing the set of error components by applying the Low Rank Matrix Decomposition technique again but utilizing a second Lagrange's parameter, wherein the value of the second Lagrange's parameter is greater than the value of the first Lagrange's parameter; and aggregating the set of background components and the one or more moving objects to reconstruct the multimedia content.