JUDGMENT :

MANSOOR AHMAD MIR, J.

1. Subject matter of this appeal is the award, dated 17th May, 2008, passed by the Motor Accident Claims Tribunal, Hamirpur, (for short, the Tribunal), in Claim Petition No.46 of 2006, titled Shashiwala and others vs. Parveen Kumar and others, whereby a lump sum compensation to the tune of Rs.12,40,000/-, with interest at the rate of 7.5% from the date of filing of the Claim Petition till realization, was awarded in favour of the claimants, and the insurer-appellant was saddled with the liability, (for short, the impugned award).

2. The claimants, the owner and the driver have not questioned the impugned award, thus, the same has attained finality so far as it relates to them.

3. Feeling aggrieved, the insurer has challenged the impugned award by the medium of present appeal.

4. Facts of the case, in brief, are that on 25th April, 2006, at about 1.35 p.m., deceased Anil Kumar, aged 20 years, who was a student of engineering in National Institute of Technology at Hamirpur, while coming from Bhatta to NIT, Hamirpur on motorcycle No.HP-22A-1132, was hit by a bus bearing registration No.HP-39A-4715 at a place known as Bhumpal, as a result of which the deceas