Reva Khetrapal, J.

1. The petitioners in the present writ petition pray for issuance of an appropriate writ, order or direction to quash FIR No. RC SID 2004 E 001 dated 29th January, 2004 under Section 120B Indian Penal Code, read with Section 25(1) and Section 3 of the Antiquities and Art Treasures Act, 1972 (hereinafter referred to as the AAT Act, 1972) and all proceedings arising there from. The aforesaid F.I.R. was registered pursuant to a complaint dated 06.01.2004 addressed to the Superintendent of Police, CBI/EOU-VIII, Block No. 3, C.G.O. Complex, Lodhi Road, New Delhi by Dr. G.T. Shendy, Superintending Archaeologist (Antiquity) for the Director General, Archaeological Survey of India.

2. The facts briefly stated are that the petitioner No. 1, M/s. Bowrings Fine Art Auctioneers Pvt. Ltd., is an auction house engaged in holding auctions of paintings of various eminent artists. The petitioners No. 2 and 3 are the Deputy Chairman cum Paintings In-charge and the Managing Director of the petitioner No. 1. In an auction held by the petitioners on 20th November, 2002, two paintings titled “Reconciled” by Frederico Andreotti and “The Kill” by George D. Rowlandson, were purc