Bhullar, who is making a comeback after enduring an injury-hit 2014-15, landed an eagle on the 12th and was three-under 12 holes in second round. At even par for 30 holes, he was tied sixth and three shots behind Chinnarat Phadsungil, who was also three-under through 12 holes in second round and his total was also three-under for 30 holes.
Australia's Scott Barr kept the faith in himself by carding an even-par 71 to take the second round clubhouse lead at Laguna National.
Further down S Chikka (76-70) and Abhijit Chadha (72-74) had completed their rounds and were tied 35th at four-over.
Also at four-over for the tournament were Khalin Joshi, who had four holes left and Abhinav Lohan, who had nine left.
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Veteran Jyoti Randhawa recovered from his first round 79 to shoot 68 and looked likely to make the cut and five-over in tied 48th. Lying at the same score was SSP Chawrasia, who was three-over through 12 holes in second round.
Malaysia's Nicholas Fung went out all guns blazing by firing a 67 to stay a single shot back of Barr as Chinnarat Phadungsil and Natipong Srithong are on three-under through 12 and 11 holes respectively before play was suspended at 6.47pm local time due to darkness.
Thailand's Jazz Janewattananond and Namchok Tantipokhakul and Bangladeshi Siddikur Rahman also returned home safely with matching 71s in both their rounds.
A total of 66 players will now have to return tomorrow morning to finish their second round at the USD 750,000 Asian Tour event.