Who will decide punishment in road accident case

Hello Experts, My wife met an accident on 20th sep. She was crossing road on scooty when a biker ran into her. She has got thigh bone fracture and other injuries. Traffic police filed Hit & Run case and filed FIR under following laws: IPC 279 & 337; Indian Motor act: 134 and 187. Later I was able to trace the guy and he then surrendered. Now, I wanted to know, 1.who will be deciding on next course of action? As you mentioned 279 is cognizable, so can police just release him with 1500 fine or can I still get him trialed. 2. Do I need to run two different cases via CMM and MACT court or can CMM only work out on compensation part. 3. The identity of the person was known to some people and only on third day when I traced them out then they confessed. Is there any charges that are applicable against them? Thanks in advance for your help Regards Manish Agrawal