With totals of 13-under-197, Khalin and Shubhankar enjoy a one-shot advantage heading into the final round of the Rs. 1 core event at the Bombay Presidency Golf Club (BPGC).
There was a four-way tie for third place between Delhi golfers Rashid Khan and Kapil Kumar, Chandigarh's Ajeetesh Sandhu and Sanjeev Kumar of Lucknow at 12-under-198.
Fifteen-year-old junior amateur Aadil Bedi of Chandigarh, the youngest player in the field, shot a 70 in round three to close the day in tied 19th at six-under-204. Local professional Anil Bajrang Mane also took a share of 19th place after his round of 68.
Joshi (67-67-63), who was tied 12th and five off the lead after round two, came roaring back into contention with a bogey-free 63 on Friday. The 24-year-old Joshi, who will be fighting to retain his Asian Tour card at the Panasonic Open India next week, mixed seven birdies with a couple of excellent par-saves during round three.
Joshi, also in contention for the Rolex Ranking title this year with his current Order of Merit position being fifth, made a charge for his second title of the season with four birdie conversions from 15 to 20 feet. He also recovered well for pars after hitting the water tank on the fourth and finding the bunker on the 14th.
Shubhankar (63-69-65) moved up from overnight tied third to joint first after a splendid 65 on day three. Shubhankar, the opening round leader, made early gains on Friday sinking three tap-in birdies on the first four holes before a three-putt resulted in his only bogey of the day on the seventh.
Rashid Khan (64), Kapil Kumar (67), Ajeetesh Sandhu (66) and Sanjeev Kumar (65) were bunched together in tied fourth at 12-under-198.
Fifteen-year-old amateur Aadil Bedi (67-67-70) carded a 70 to be placed tied 19th at six-under-204. Anil Bajrang Mane (68) also took a share of 19th place.
Veer Ahlawat who made a hole-in-one on the sixth during his round of 66 was in 24th place at five-under-205.
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