JUDGMENT

Lalitha Kanneganti, J. - The present civil revision petition under Section 115 of the Code of Civil Procedure, 1908 (for short 'C.P.C.') is filed assailing the order dated 12.08.2016 passed in E.A. No. 178 of 2012 in E.P.No.8 of 2008 in O.S. No.55 of 2000 on the file of II Additional District Judge, Vijayawada whereby the petition filed by judgment debtor No.2 under Section 47 read with Section 151 of C.P.C. was dismissed.

2. The facts in brief are that:

The first respondent herein who is the Decree holder has filed O.S. No. 55 of 2000 against the respondents 2 to 4 and revision petitioner herein for recovery of an amount of Rs.19,91,358/- being the principle and interest due by them under chit agreement dated 31.03.1997 executed by the 2nd Respondent with the surety of respondents 3, 4 and the petitioner. The defendants also created equitable mortgage over the plaint schedule property. Preliminary decree was passed on 22.06.2004 for a sum of Rs. 27,60,637/- with subsequent interest at 12% per annum on Rs.16,00,000/- from 26.02.2004 till the date of realisation. As per the preliminary decree, if the defendants fail to pay the amount within six months the plaintiff is permitt