A bench of Justice Mukta Gupta asked the police to file a report on the matter while noting that the probe was on a standstill as the complainant and the accused were trying to negotiate a settlement.
The bench, however, said that the interim protection from any coercive action granted to Mr Choksi in April last year will continue.
The diamond merchant had approached the high court for quashing of the FIR lodged against him for allegedly cheating an engineer's firm in 2016.
The FIR was lodged on the orders of a magisterial court here on a complaint by B.Tech graduate Vaibhav Khuraniya alleging that his company RM Green Solutions had purchased a retail franchise of Gitanjali Jewellers from Mr Choksi on an assurance of high returns.
The FIR had also alleged that on the day of opening of the retail franchise store in Rajouri Garden in West Delhi in October 2013, the fraud came to light as they received third-grade diamonds and other items, the worth of which was around Rs 50-70 lakh.
The district court had on June 2, 2016 ordered registration of an FIR against Mr Choksi, which was lodged on July 12, 2016.