"The allegations are serious. But because there are allegations that does not mean charge is true," Srivastava told reporters on the sidelines of Independence Day celebration here.
"Maybe tomorrow I will receive instructions and then inquiry would be initiated. This kind of inquiry doesn't take time," he said.
Vasco-based businessman Munnalal Halwai had recently alleged that the IGP had accepted Rs 5.5 lakh bribe from him to file FIR in connection with a cheating case filed by him against another businessman at Ponda police station.
Halwai has already filed a complaint with the Chief Minister, Anti-Corruption Bureau and also filed petition before a special court.
Garg had earlier refuted the allegations but admitted that he had met the complainant.