Claimant in MVC.No.10/2008 on the file of MACT, Sagar, has come up in this appeal challenging the judgment and award dated 19.2.2011 in dismissing his claim petition. Though this appeal has come up for orders, since lower court record is received, at the request of counsel for the parties it is taken up for final disposal.

2. Brief facts leading to this appeal are as under:

Claimant before the tribunal is owner of Toyota Innova bearing registration No.KA-19/NT-M-2010. The said vehicle met with an accident on 16.2.2006 involving KSRTC bus bearing registration No.KA-27/F.84 resulting in total damage to the vehicle i.e., damage to the engine as well as shell of the vehicle rendering the entire vehicle unfit to use. The records would disclose that aforesaid Toyota Innova vehicle of claimant was a brand new vehicle purchased just one month prior to the date of accident at the cost of Rs.8,80,000/-. In addition to that claimant had also incurred expenses in a sum of Rs.90,000/- towards lifetime tax to make it fit for use on road. Therefore, the cost of investment of claimant on the said vehicle was in the range of Rs.9,70,000/- as on January 2006.

3. Admittedly, in the accident dated 16.2.2006 there being total damage to the vehicle, the claimant immediately after the accident approached its insurer, namely IFFCO Tokio General Insurance Company Limited seeking to realize the value of vehicle, which was insured with it one month prior to the date of accident. However, in terms of the policy of said Insurance Company, the claimant was not entitled to get the entire value of the vehicle. Therefore, he opted for the best choice available to him in seeking to settle his claim on cash loss basis, for which Rs.4,39,000/- was offered by his insurer and in addition to that he was allowed to keep the fully damaged vehicle either to get it repaired if possible or to sell it as scrap and realize proceeds out of that. The claimant would state that he received Rs.4,39,000/- in full and final settlement of his claim against the insurer of his vehicle and thereafter, sold the damaged vehicle as scrap and realized a sum of Rs.2,50,000/-. With this, as against the value of vehicle at Rs.9,70,000/-, he realized Rs.6,89,000/- due to settlement with his insurer under cash loss scheme and also in selling the damaged vehicle as scrap. For the balance he filed a claim petition against the owner of offending vehicle, namely NWKRTC seeking recovery of the same to ensure that he would be able to secure the difference, which was quantified at Rs.2,81,000/-, plus the transportation and vehicles release expenses in a sum of Rs.19,000/-, to purchase another Brand new vehicle in place of damaged new vehicle, which was purchased in the month of January 2006.

4. However, the NWKRTC took up a defence in the claim proceedings that in view of claimant having received certain amount from his insurer in full and final settlement, he is not entitled to any further compensation from the owner of offending vehicle, which line of defence was upheld by the tribunal and the claim petition of claimant seeking compensation is dismissed. Being aggrieved by the same, the claimant has come up in this appeal seeking to set aside the judgment and award passed by the tribunal in dismissing his claim petition filed seeking compensation in a sum of Rs.3,00,000/-.

5. Heard the learned counsel for appellant as well as contesting respondent. Perused the grounds of appeal, pleading oral and documentary evidence available on record with reference to judgment impugned. The undisputed facts in this case are that claimant is the registered owner of Toyota Innova bearing registration No.KA-19/NT-M-2010; said vehicle was just one month old as on the date of accident; the claimant had invested a sum of Rs.9,70,000/- for acquisition of vehicle, which includes cost of vehicle and lifetime tax paid thereon. It is further not in dispute that after the accident he has approached his insurer and real