AITK for settlement of a small street accident?

I (36M) work in IT sector in Bangalore. Last year, I was visited my sister in Pune. My sister's husband is PI. We were going out for something and as he knows the streets better, he was driving my car. Some guy on bike rear-ended us at a signal. Before my brother in law could get out and catch him, he escaped. And that hurt my BiL's ego. Unlucky for him, I had dashcam and we got his reg number. My BiL took car to nearest police station and he personally wrote the FIR with any and all possible sections. I moved back to my place after a couple of days, repaired damages under my own insurance and the episode was behind me.

Yesterday the guy called. He worked in Infosys. He is getting background verification flagged everywhere because of that FIR. He is not able to onboard any project nor can change any job.

He got my mobile number, from cars reg number, that was mentioned in FIR. He wants to settle the case. I called my brother in law and told the incident. He said, "सेटलमेंट करायची का त्याला? माझ्याकडे पाठव" translate:"he wants settlement? Send him to me". He also said, he knew that one day the guy will come searching you. I shared the contacts with each others. I know this settlement is going to cost him...A LOT.

AITK?