Delhi lad Rashid and Pariya, who shot a four-under-68, opened up a four-shot lead at the top with their total scores reading 10-under 134.
Rashid and Pariya, who have mutual admiration for each other, would be the ones to watch out for in the next two days at the Royal Calcutta Golf Course.
Showering praise on Khan, Pariya said: "He's really good hands and you learn a lot watching him play. A definite shotmaker, he's one for the future. I'm really looking forward to the next two rounds."
Tied seventh and four off the lead after round one, Khan (70-64) found his way to the top of the pack with an error-free 64 that featured an eagle and six birdies.
Currently fourth in the Rolex Ranking in the Order of Merit, Rashid has now received a shot in the arm for his aspiration to be the PGTI No. 1 of 2016.
A double winner on the PGTI this year, Khan carried on the good work on the back-nine by adding four more birdies to his card.
He landed it within a foot on the 12th, sank a 35-footer on the next and also capitalised with a birdie on the second par-5, the 15th.
Khan, who ended up one short of his 2014 course record of 63, said, "I was quite confident coming into this event as I had a runner-up finish last week in Jamshedpur.
"This season I've struggled with some injuries thereby playing fewer events on the both the Asian Tour and the PGTI. But I feel the game is getting better each week. It will be fun playing alongside Pariya tomorrow as both of us have played together many times on the Asian Tour before."
Pariya was one-under through the front-nine and then made a move on the back-nine with three long birdie conversions. His 25-footer for birdie on the last hole helped him end the day in the joint lead along with Khan.
Local favourite and winner of the inaugural edition in 2012, SSP Chawrasia, moved up from tied seventh to tied third after a 68 on day two.
Rolex Ranking leader Sharma and Amardip Sinh Malik, who had a hole-in-one on day one, joined Chawrasia and Ranjit in tied third at six-under-138.
Shiv Kapur (70) was a further shot back in tied 12th. The Kolkata duo of Rahil Gangjee (71) and Arjun Atwal (73) were placed tied 22nd at even-par-144 and tied 31st at two-over-146 respectively.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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