Dharma, who shot a 66 in the first round but dipped to 71 in the second, bounced back with a 68 and was the best Indian placed Indian at tied 4th with at eight-under 213.
Dharma is three shots behind the leader, England's Jack Harrison (66-69-67) at 11-under, while Sri Lanka's Mithun Perera, looking for his maiden Asian Tour win, was second with rounds of 70-67-66 at 10-under 203.
Among other Indians in the top-10, Divyanshu Bajaj (67-69-70) was tied 7th, while Honey Baisoya (71-67-70) was ninth. Rashid Khan, a two-time winner on Asian Tour, is tied 10th with rounds of 71-67-70.
Of the other Indians, who made the cut, Sanjeev Kumar (69-67-77) is tied 28, Viraj Madappa (73-71-70) and Khalin Joshi (70-73-71) are tied 38, while Veer Ahlawat (71-71-74) is tied 56.
Aman Raj, Deepinder Khullar, Himmat Rai, Jeev Milkha Singh, Chiragh Kumar, Manu Gandas and Udayan Mane missed the cut.
Dharma, a two-time winner on his domestic circuit, is making his third appearance at the AB Bank Bangladesh Open this week, and was tied 7th when played at the ADT season-opener at the Kurmitola Golf Club earlier this year.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)