Dear Sir
The vehicle will seized as accident case. That may be released on the same day before the court. As you have all documents and insurance valid hence the case will be against you and insurance jointly. You and insurance are jointly liable for the act. Need not need to worry much about that.
There may be possibility of any other sections in FIR based on complaint. Hence we need to see the complaint filed by the other vehicle person. You need to go with advocate for the safety.
Feel free to reach us for any assistance.