Pratap Kumar and his wife Priyanka alias Elizabeth Mary were killed after their motorcycle was hit by a tipper lorry on November 20, 2009.
Kumar, who was employed in Canada and earning about Rs 7 lakh annually, had come to the country on leave.
The couple is survived by a minor daughter, who is now staying with Kumar's parents.
The tribunal awarded the amount, keeping in mind the age of the couple, the salary earned by Kumar and his future prospects.
Its presiding officer N Gunavathi directed that Kumar's parents each be given Rs 20.89 lakh from it. The balance Rs 50 lakh should be kept in a nationalised bank till the girl became a major, he said.
The tribunal directed vehicle owner A Sheik Mohammad and ICICI Lombard General Insurance Company to pay the amount.
It said the legal presumption was that the mishap occurred due to rash and negligent driving by the lorry driver.
The girl and her grandparents had sought compensation of Rs one crore for the death of Kumar and Rs 15 lakh for Priyanka.
