rajeevbjarti,
CakePHP is an EXCELLENT MVC Framework, there are many many others, including Zend Framework, CodeIgnitor, Mojavi, Symfony, just to name a few...
There is an excellent introductory article from O'reilly here on MVC Frameworks.
CakePHP has The Cookbook, which is everything cake.
My only recommendation with using MVC frameworks is try not to get hung up on how many php apps work, as MVC is a little different. The best part of CakePHP or the other aforementioned frameworks is they do a lot of the dirty, repetitive work for you, such as better session handling, DB Connections, etc.
In short, the Cookbook for cake is an excellent read.