1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CRIMINAL APPELLATE JURISDICTION CRIMINAL APPLICATION NO. 4057 OF 2009 Jagdish Arora & Anr. ..Applicants versus State of Maharashtra & Anr. ..Respondents .... Mr.S.R.Ganoo i/by Rajesh Ravindran for Applicants. Mr.Laxman Kanal, Advocate for respondent no.2. Mrs.U.V.Kejariwal, APP for State. .... CORAM : S. A.BOBDE, J. DATED : 14th SEPTEMBER,2009. P.C. : 1 This is an application for quashing the First Information Report and the proceeding initiated thereon. 2 The applicants are being prosecuted under Section 420 r/w. 34 of Indian Penal Code in respect of certain transaction between them. There is however, no dispute that the matter has since been settled between the parties. The Consent Terms have been entered into. This Court has also, on the Civil Side, taken cognizance of the Consent 2 Terms and disposed of the suit between the parties. 3 The learned counsel for the respondents does not dispute the fact of the settlement between the parties or the Consent Terms. He joins the prayer made by the learned counsel for the applicants to quash the proceeding. 4 The dispute between the parties arises out of business transaction between them, and the public at large has not been affected thereby. The dispute seems to have been settled between the parties. Having regard to the law laid down by the Supreme Court in Madan Mohan Abbot V/s. State of Punjab [(2008) 4 SCC 582] and Manoj Sharma V/s. State and Ors. [(2008(4) KLT 417 (SC)], I am of the view that this is an appropriate case for quashing the proceeding pending against the applicants. Accordingly, the application is allowed in terms of prayer clause (b), which reads as follows : 3 (b) FIR initially registered by Khar Police Station viz., FIR No. 354/01 and subsequently transferred to G.B.C.B.C.I.D., Unit  III vide C.R.No.109/01, be quashed and set aside. 5 Order accordingly. (S.A.BOBDE, J.)