As per case facts, petitioners, acting as land brokers, were accused of criminal conspiracy with company directors, selling company land at a loss and misappropriating funds meant for alternate land ... purchase, leading to charges under various IPC sections. The initial FIR was registered after a complaint from the second respondent company. The reason for the appeal to the High Court was a petition seeking to quash the criminal proceedings, citing that the dispute was commercial, civil in nature, and amicably settled between the parties, with a Joint Compromise Memo filed. The question arose whether criminal proceedings, even for non-compoundable offenses, could be quashed when the dispute is private and commercially settled. Finally, the High Court, referring to the `Gian Singh Versus State of Punjab` case, held that no useful purpose would be served by continuing the proceedings, given the private and commercial nature of the dispute and the amicable settlement, thus exercising its inherent powers under Section 482 Cr.P.C. to quash the proceedings.