It was his best finish thus far in his maiden season on the European Tour. Bhullar, who had a three-under 69 with a bogey on closing 18th, did a creditable job with four sub-par rounds in what was a fairly low-scoring tournament.
Bhullar had a bogey on second, but birdies on third, seventh and 13th saw him finish at 70 and 12-under.
The other three Indians Jeev Milkha Singh, Shiv Kapur and Anirban Lahiri missed the cut.
During the play-off Gregory Havret of France was eliminated on second and then Rafa Cabrera-Bello of Spain went out on the fourth and finally on the fifth play-off hole Zanotti prevailed over Stenson of Sweden, who earlier had a chance to close on 72nd and then again on the first play-off hole.
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As the end neared in the fourth round, there was a logjam at the top. First, Thongchai Jaidee came from nowhere in the ninth from last group to shoot a flawless seven-under 65 that saw him take the clubhouse lead at 18-under. He was overtaken by Zanotti (65) at 19-under and later joined by Havret (66). A third player, Cabrera-Bello (67), sprinted at the finish with a birdie on 16th, an eagle-2 on 17th and a birdie on 18th to get to 19-under.
Overnight leader Pablo Larrazabal, leader by three, was just unable to keep the momentum going and the same was the story for the other two in the lead group, Richard Green and Francesco Molinari.
Larrazabal was the only player not to shoot under par from among the top-20 with a round of 72 that saw him slip to tied eighth in a four-man pack. Green (70) and Molinari (70) were tied 12th in a bunch of 10 players.