( 1 ) THIS petition under Articles 226 and 227 of the Constitution of India seeks quashing of F. I. R. No. 117/2004 registered at Police Station Connaught Place, New Delhi, under Section 420 of the I. P. C. Crl. M. No. 2130/2004 was filed for stay of investigations. Crl. M. Nos. 2615 and 2616/2004 have been filed by respondent No. 2 for dismissing the writ petition and vacating stay order. The facts relevant for the disposal of this petition and applications, briefly stated, are that the petitioner is the Chief Controller of Sahara Airlines Limited. The respondent No. 2-complainant, who is a Commercial Pilot, was working with Indian Airlines from 1972 to 1994 and from 1994 to 1995 with Jet Airways. In September, 1995, he was selected for the post of Commander by Sahara Airlines Limited. On 30th September, 1995, he was issued an appointment letter, one of the terms of which was that on completion of three years service in Sahara India Airlines, the Management would provide him residential accommodation costing around Rs. 36 lacs. This appointment letter was under the signatures of the petitioner. On 18th November, 1995, an addendum was issued by petitioner clarifying to the respondent No. 2 that on completion of his three years of service, the Management would provide him, on ownership basis, a house/flat costing Rs. 36 lacs. According to respondent No. 2, after completion of three years of service, he requested the petitioner to provide him residential accommodation on ownership basis as promised but the petitioner did not provide him the same. When he raised this issue in the meetings of the Sahara Airlines, Chaired by the petitioner, he assured him that the Company stands by its commitment and residential accommodation on ownership basis would be provided to him and they were taking action to make provision for it. On 14th November, 2000, the respondent No. 2 after completion of five years of service, resigned and demanded his outstanding dues including residential accommodation costing Rs. 36 lacs. On 15th November, 2000, his resignation was accepted but no residential accommodation was provided to him as a result of which he filed a Civil Suit No. 398/2001 in the High Court of Delhi. In the said suit, M/s. Sahara Airlines Limited raised a plea that the petitioner herein was not authorised to issue the letter dated 18th November, 1995. In these premises, the respondent No. 2 alleged that the petitioner was in conspiracy with others in M/s. Sahara Airlines Limited and had cheated him by making representations that he would be provided a house costing Rs. 36 lacs on ownership basis. It was alleged that the petitioner had dishonest and fraudulent intentions since inception and had made unlawful gain of Rs. 36 lacs by cheating and forgery which came to respondent s notice when in I. A. No. 10878/2003 in Suit No. 398/2001, M/s. Sahara Airlines Limited pleaded that the petitioner was not empowered or authorised to issue the letter dated 18th November, 1995. The petitioner invokes the extraordinary jurisdiction of this Court and prays for issuance of appropriate writ/directions quashing the F. I. R. No. 117/2004 registered on the basis of the aforesaid complaint of respondent No. 2. He pleads that the F. I. R. does not disclose any offence; that it is a purely civil dispute regarding which a civil suit has already been filed and Clause (3) of appointment letter which stipulated the providing of residential accommodation had clarified that benefit would not enure in the event of the respondent s disassociation with Company for any reason. According to the petitioner, this Clause clearly conveyed that such a big benefit could be made available to respondent No. 2 only if he had continued with the Company till the age of superannuation. According to him, a flat of Rs. 36 lacs after three years of service would have meant an additional package of Rs. 1 lac per month to respondent No. 2 which was never the intention of