Challenging the Award dated 05.09.2008 in M.V.O.P.No.1340 of 2007 passed by the Chairman, M.A.C.T-cum- District Judge, Guntur (for short the Tribunal), the 2nd respondent in the O.P/Bajaj Allianz General Insurance Company Limited preferred the instant appeal.

2) The factual matrix of the case is thus:

a) The claimants are the parents of 5 years old deceased boy Gujjula Srinu. Their case is that on 25.07.2007 at about 10.15 am the deceased boy was returning to his house after drinking water and when he entered the edge of the road, one auto bearing No.AP 7TT 8668 being driven by its driver at high speed and in a rash and negligent manner, dashed the deceased boy causing instantaneous death. It is averred that the accident was occurred only due to the fault of the driver of the offending auto and due to abrupt death of deceased they lost all their hopes on the boy. With these averments they filed M.V.O.P.No.1340 of 2007 under Section 163-A of Motor Vehicles Act, 1988 (for short M.V Act) against respondents 1 and 2, who are the owner and insurer of the offending auto and claimed Rs.1,75,000/- as compensation.

b) Respondent No.1 remained ex parte.

c) Respondent No.2/Insurance C