Chowrasia, a two-time winner on European Tour but winless since 2011, shot one-under 70 and was even-par for two rounds. He was lying 20th at the end of the second round.
Shiv Kapur (72-77) and Jeev Milkha Singh (76-75) missed the cut, which fell at four-over 146.
In the third round, Chowrasia found a birdie on the very first hole and moved inside top-15, but had 16 more holes to play.
The Welshman was one of the few under par players from round one to shoot better than 71 again on a firm course.
Bond went one better than the first round's two-under 69 as birdies on fifth, eighth, 11th, 14th and 15th more than made up for bogeys at the seventh and 18th.
He subsequently ended a stroke ahead of overnight leader Espen Kofstad, who followed up his 64 with a disappointing 74.