Can A Criminal Case Be Quashed In High Court By Submitting The Drmand Draft Of Compensation Money In Favor Of Complainant?

Sir, one of my friend held by police under section 420, 468,467 and his bail application got reject from district court and high Court. Now the opposition advocate has offerd us to compromise under the condition of paying amount of Rs 1lac to them. The procedure which he told me is as follow: 1. Enter into compromise with the complainant and then file an application before the trial court to get the compoundable offences compounded. 2. Then file a quashing petition under section 482 CrPC before the High Court stating that both the parties do not want to continue with the trial since the matter had been compromised. 3. After hearing both the parties the court will ask to submit a demand draft of Rs 1lac to compensate the loss of complainant. 4. Once we will submit the draft in favor of complainant the court will give that money to complainant and will pass an order to the trail court to quash the case. According to him there are a number of supreme court rulings, where it is stated that if the parties do not want to continue with a criminal trial then the High Court can even quash the non compoundable offences under section 482 CrPC. To me it all seem to be fine except the point number 3 and 4. Does it really happen that in case both the parties want to compromise and do not want to continue further, the case can be quashed with the permission of high Court by submitting the compensation money in court ?