Playing black, Padmini was at her best in tackling Bulmaga who went hay wire in the middle game and lost a pawn. With perfect technique, Padmini picked up another pawn and then a rook for a knight, leading to a won position.
The shocker meant changes in the rankings as Aleksandra Goryashkina of Russia emerged as the sole leader here with 8.5 points out of a possible 11.
Padmini with this victory jumped to 7.5 points and she now shares the fourth spot with two rounds still to come.
Yu Yangyi of China regained sole lead defeating Andrey Stukopin of Russia on a day when defending champion Alexander Ipatov of Turkey was held to a draw Samvel Ter-Sahakyan of Armenia. Ipatov again slipped to the second spot on nine points, a half point ahead of Jorge Cori of Peru.
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The Indian duo of Sethurman and Gujrathi are now joint fourth on eight points and need to do well in the last two rounds to be in with a chance for a podium finish.
Sethuraman had an easy day out of a Nimzo Indian defense as black. Winning a pawn in the endgame, Sethuraman was precise in his calculations and his two passed pawns proved much faster than Urtnasan's.