Enforcement of liability of surety.

        Where any person ¹ [has furnished security or given a guarantee]--
             (a) for the performance of any decree or any part thereof, or
             (b) for the restitution of any property taken in execution of a decree, or
             (c) for the payment of any money, or for the fulfilment of any condition imposed on any person, under an order of the Court in any suit or in any proceeding consequent thereon,
     ² [the decree or order may be executed in the manner therein provided for the execution of decrees, namely:--
                 (i) if he has rendered himself personally liable, against him to that extent;
                 (ii) if he has furnished any property as security, by sale of such property to the extent of the security;
                 (iii) if the case falls both under clauses (i) and (ii) then to the extent specified in those clauses, and such person shall, be deemed to be a party within the meaning of section 47]:
             Provided that such notice as the Court in each case thinks sufficient has been given to the surety.