Welcome to the forum, Sathish!
You aren't allowed to post images until you have five posts, so your pictures don't show up. However, from what you described, you're correct - you can't directly connect your Creative speakers to your TV. You would need a DAC (digital-to-analog converter) for that, and you'd need a DAC that decodes Dolby Digital.
You should be able to connect the DVD player, though. The only question for me is how many speakers in the Creative system will work with it. What are the model numbers of the DVD player and Creative speakers? If we know those, we might be able to find information about them ourselves and help you get everything hooked up.