JUDGMENT

1. The appellant has filed the present appeal under Section 173 of Motor Vehicles Act, 1988 (M.V.Act for short) challenging the judgment and award dated 14th May 2007 passed by the Chairman, Motor Accident Claims Tribunal, Akola, (M.A.C.T. for short) in Motor Accident Claim Petition No.139 of 2003. By the impugned judgment and award the learned Chairman, M.A.C.T., Akola, has awarded compensation of Rs.3,41,000/- along with interest at the rate of 8 percent per annum from the date of application till realization.

2. Brief facts are as under :

(a) On 31st December 2002 Vilas Janrao Sakhare (deceased) was employed with the appellant. Respondent no.1 is father, respondent no.2 (since deceased) is mother, respondent no.3 is the wife and respondent nos.4 and 5 are the minor sons of the deceased.

(b) On 31st December 2002 the deceased was travelling on a tractor bearing Registration No.MH-31-H-3353 being driven by respondent no.6. Since the vehicle was being driven in a high speed and in a rash and negligent manner, the deceased fell down from the tractor and got crushed under the wheel of tractor. The said tractor was insured with respondent no.7.

(c) At the time of death the decease