Shubhankar logged a second successive 69 in the second round to get to six-under 138 and then shot 71 in the third round to drop to Tied-55th.
In the morning, Chawrasia missed the cut as he followed up his first round of 70 with a second round 71 to total three-under 141. The cut fell at five-under 139.
Li Haotong will take a one-shot lead into the final round but he will have two-time winner Rory McIlroy breathing down his neck at Emirates Golf Club.
McIlroy was not always at his brilliant best in round three but a back nine of 32 saw him sign for a 68 as he aims to equal Ernie Els as a three-time winner at this event.
Alexander Levy and Haydn Porteous were at 17-under, a shot clear of Andy Sullivan and two ahead of David Horsey.
Horsey was 15-under after a 68, a shot clear of Rafa Cabrera Bello, Dylan Frittelli, Branden Grace, Tyrrell Hatton, David Lipsky, Thorbjrn Olesen, Chris Paisley and Jeunghun Wang.
"Hopefully I can do my best out there and have some low scores. I just want to play by myself and play my game. I thought if I just stayed patient, I'll play good. So I just stayed patient all day."
McIlroy had played the remaining seven holes of his second round in five under in the morning to lead by two and he briefly had a three-shot advantage after getting up and down following a booming drive down the second.
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