JUDGMENT

1. This Appeal has been filed under section 173 of the Motor Vehicles Act, 1988 (the 'M.V. Act') challenging the judgment and award dated 16th August, 2004 passed by the Motor Accident claims Tribunal, Mumbai in Application No.2405 of 1995 partly allowing the Application with proportionate costs and further ordering the original owner of the offending vehicle and the Insurance Company to jointly and severally pay Rs.1,40,000/- to the first Appellant along with interest at the rate of 6%.

2. The Appeal was admitted on 16th January, 2007 and the hearing was expedited.

3. The brief facts are that on 24th March, 1995 at about 6.30 p.m. one Mr.Harsukhalal L. Dhuruva aged 65 years, a business partner of Arun Enterprises and Arun Plastic Printer and commission agent, was crossing Peddar road from west to east after coming from Nalanda society along with his nephew and going to his office at Masjid Bunder. After crossing half of the road, Mr.Harsukhalal Dhuruva and his nephew came on to the divider and just when Mr.Harsukhalal Dhuruva had taken one step on to the road towards the eastern half, one car came from the side of the Mahalaxmi temple at a very high speed and gave a dash to