In light of Judicial Pronouncements, if available, explain Revision under section 115 of the Code of Civil Procedure, 1908.

Revision under section 115 of the Code of Civil Procedure, 1908 The High Court can call for the record of the cases which have been decided by any Court subordinate to such High Court and in which no appeal lies for revision or if such subordinate Court appears to have exercised a jurisdiction not vested in it by law, or to have failed to exercise a jurisdiction so vested, or to have acted in the exercise of its jurisdiction illegally or with material irregularity, the High Court may make such order under section 115 of Civil Procedure Code, 1908. However, the High Court should not, vary or reverse any order made, or any order deciding an issue, in the course of a suit or other proceeding, except where the order, if it had been made in favour of the party applying for revision would have finally disposed of the suit or other proceedings. The High Court should not vary or reverse any decree or order against which an appeal lies against to the High Court or any other subordinate court. A revision shall not operate as a stay of suit or other proceeding before the Court except where such suit or other proceeding is stayed by the High Court. The Supreme Court has observed in Major S.S. Khanna v. F.J. Dhillon, A.I.R. 1964 S.C. 497 , that the exercise of jurisdiction under Section 115, C.P.C., is discretionary and that the court is not bound to interfere merely because the conditions in clauses (a), (b) and (c) of Section 115 are satisfied. The fact that another remedy is available to an aggrieved party by way of any appeal from the ultimate judgment or decree, is one of the relevant considerations for refusing to exercise discretion under Section 115, C.P.C.