If that person has died due to injuries suffered in an accident the police have the power to lodge a first information report in the relevant sections of Indian Penal Code. You cannot prove that the FIR is false and frivolous only because the deceased was going on the wrong side of the road.
It is the matter of investigation that the death was caused due to the fault of the deceased or accused (you). Therefore, the high court shall not interfere in the investigation. At this stage, it is better for you to move the High Court under Article 226 of the Constitution for protection against arrest.
You should get a direction from the High Court that police shall not arrest the accused unless there is sufficient evidence about the intention of causing death. This protection will extend till the filing of charge sheet.
Intention to cause death is the essential ingredient for the offence of murder. In absence of intention to kill, the offence of murder is not made out.
You had no intention to kill that person. It was an accident and the deceased also contributed to the accident (contributory negligence) because he was going on the wrong side. This is enough to get a protection against any coercive action of police. Then the police cannot arrest you.
This offence is punishable under the provisions of Motor Vehicle Act. When the victim dies the provisions of Indian Penal Code also attract. Hence, the FIR under Section 302 or 304 or 304A is not illegal.

