Can FIR be quashed if other party wiling to compromise?

I have been accused by Mumbai Municipal Corporation (Octroi Department) for paying less Octroi and an FIR has been lodged. I have only signed the concerned Doc. i.e. the 'R' Form on behalf of the Company, and the values were declared by the Agent at the Check Post without consulting me and duly accepted by the Octroi Inspector. Charge sheet has been given but not yet framed. If the company pays the short paid Octroi and Municipality agrees to issue a letter for compounding and mentions about "not interested in further prosecution" or anything similar can the High Court quash the FIR? Section 420,465,467,468,471 and 34 are included in the FIR.