• Can criminal action be taken against me for not reporting a crime

Last month I was driving my car when a motorcycle rider came out of nowhere and knocked into my car. After knocking into me, he swerved and lost control and knocked into a Wagon R parked outside a building. I came out of my car, by which time motorcycle rider and the girl sitting behind sped away so i could not get their vehicle number. I surveyed the damage to my car and was surprised there was only a scratch and not much damage because i heard a loud thud. Then  i looked at the Wagon R and there was a dent above the wheel. I got back in my car and drove away. I assumed that the motorcycle rider knocked into the Wagon R, but i could not be sure. The only thing that I am sure of is that my car did not make contact with the Wagon R.

Last week the owner of this Wagon R - who happens to be an advocate -  arrives at my residence. He tells me that bystanders have reported that my vehicle zig zagged and knocked into his car. He says that eye-witnesses have not reported any motorcycle rider at the scene. He demands that I take ownership of the crime and admit I am guilty and pay him the damages. He says that if m y story is true about the motorcycle rider damaging his bike, then I had a moral obligation to find out who the owner of the Wagon R was and report the incident to him . He says that since I got back in my car and drove away, the incident is now a hit-and-run because i fled the scene. 

We told him that he was not present at the time of the incident and did not see anything with his own eyes. However he is adamant that since I got back in my car and drove away, it is a sign that I am guilty. He is adamant that I admit my guilt and pay him Rs 3800 as compensation for the damages.

Now the amount is not huge and very affordable but i don't see the sense in admitting to a crime which I did not commit. Can he go ahead and press charges against me  ?