Hi Vallabh,
Since CAPTCHA's goal is to ensure that the data is entered by a human, CAPTCHA is generated to avoid recognizing its text by any modern recognition tool. Besides that, the characters in the image you provided can hardly be recognized even by a human, so I don't think that you will be able to recognize the characters automatically.
I recommend that you contact your developers and ask them to provide a workaround (for example, to make the web application print the expected code somewhere on the web page for debug purposes).
