How to come out of a 304A Case

Few months ago while I was driving on a state highway at night, I accidentally hit a person, as he was crossing the highway carelessly ( it was not a junction and there was no zebra crossing at the accident spot) and he was dead by the time the ambulance came. My details and condition: 1. I was traveling with my wife and 3 year old kid. 2. We came out from the car scratch less after accident, although the car doesn't have any safety features. ( This 3. When I called police they arrived and conducted drunken drive test and it was negative. 4. The police then took me to police station, after taking my vehicle from the accident spot. 5. They have not taken any written complaint or plea from but booked a 304 A against me and granted station bail. 6. My car had comprehensive insurance they took a copy of that and other documents like aadhar. 7. The victim family had demanded compensation of 30+ Lakhs in which me and my insurance company was respondents. 8. Historically, I don't have any remark on DL ( No: Signal Jump, Over speeding, Hit and run, drunken drive) 9. Can I sell my accidental vehicle now ( As I got the no objection from the vehicle inspector after 2 weeks) So, my question to learned lawyers is Can the deceased's family get the demanded compensation ? & Can I get out clean from 304A case on me ? Can these two happen ? I am confused, kindly help me