Quashing can be filed anytime before charges are framed. At this stage it is quashing of FIR, after challan is presented it is called quashing of chargesheet and proceedings emanating therefrom. If the FIR has potential then as advised go in for it now, going in for quashing is always a risk - it pays if it is calculated and recklessly going in for it may disclose your defence and give the prosecution chance to fill up the lacunae in it's case.
Good Luck !
Bharat Chugh - Advocate Supreme Court of India
Law for Layman (Laws of India Initiative)
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