JUDGMENT :

SURYA KANT, J.

1. Leave Granted.

2. The present appeal is directed against the judgment dated 30.06.2017 passed by the High Court of Judicature at Madras, Madurai Bench whereby the appeal preferred by the National Insurance Co. Ltd. (Respondent No. 1; hereinafter “Insurance Company”) against the award dated 06.10.2012 passed by Motor Vehicle Accident Claims Tribunal, Tiruchirappalli (hereinafter “Tribunal”) was allowed and the compensation granted to Appellants was reduced from Rs. 4,29,37,700/- to Rs. 57,90,000/- along with requisite interest. The factual matrix is succinctly discussed below before delving into the issue of law regarding determination of quantum of compensation which requires adjudication before us.

(A) FACTS

3. S. Kumareshan (hereinafter “Deceased”) was a resident of Tiruchirappalli, Tamil Nadu. On the fateful day, at about 4 PM in the evening, he was travelling alone in a Lancer Car bearing Registration No. TN-45-S-9199 and met with an unfortunate accident with an Ambassador Car bearing Registration No. TN 59 E 9288 along the stretch of road between