Transformed domain sparsity of Magnetic Resonance Imaging (MRI) has recently been used to reduce the acquisition time in conjunction with compressed sensing (CS) theory. Respiratory motion during MR scan results in strong blurring and ghosting artifacts in recovered MR images. To improve the quality of the recovered images, motion needs to be estimated and corrected. In this article, a two-step approach is proposed for the recovery of cardiac MR images in the presence of free breathing motion. In the first step, compressively sampled MR images are recovered by solving an optimization problem using gradient descent algorithm. The L1-norm based regularizer, used in optimization problem, is approximated by a hyperbolic tangent function. In the second step, a block matching algorithm, known as Adaptive Rood Pattern Search (ARPS), is exploited to estimate and correct respiratory motion among the recovered images. The framework is tested for free breathing simulated and in vivo 2D cardiac cine MRI data. Simulation results show improved structural similarity index (SSIM), peak signal-to-noise ratio (PSNR), and mean square error (MSE) with different acceleration factors for the proposed method. Experimental results also provide a comparison between k-t FOCUSS with MEMC and the proposed method.