Finally found the solution to my problem :)
// define quadrilateral's corners
List<IntPoint> corners = new List<IntPoint>( );
corners.Add( new IntPoint( x1, y1 ) );
corners.Add( new IntPoint( x2, y2 ) );
corners.Add( new IntPoint( x3, y3 ) );
corners.Add( new IntPoint( x4, y4 ) );
// create filter
QuadrilateralTransformation filter=new QuadrilateralTransformationBilinear( corners, NewWidth, NewHeight );
// apply the filter
Bitmap newImage = filter.Apply( image );
This would convert any quadrilateral into a Rectangular one. It helped me, hope this information is helpful to others as well.