Led by two-time European Tour winner SSP Chowrasia, TAKE Chennai team will start as favourites when the Rs 1.2 Crore Louis Philippe Cup golf tournament gets underway on Thursday.
Chowrasia slumped to a 76 and watched helplessly as Lahiri denied him his third European Tour title by rolling in a 15-foot birdie to clinch the playoff.
Chawrasia will head into Sunday's final round of the Indian Open with a two-shot lead in his pocket and a third European Tour title in sight.
Chowrasia, a three-time Indian Open runners-up, was closely followed by Bangladesh's Siddikur Rahman, who turned in a three-under 68, to lie one stroke adrift of the leader.
Atwal, who was Asia No. 1 in 2003, said, "I hit it pretty solid. I'm happy with my score and I have no complaints."
Chowrasia rolled in a 15-footer birdie in extra time to cap a sensational comeback as he was five shots off the lead during the start of the day.
Chapchai (68) beat early leader Antonio Lascuna (63) in the first play-off hole, while Lahiri (68) ended sole third.
Lahiri, high on confidence having played two Majors and then being honoured with Arjuna Award at home, will seek to augment his lead at the top of the Asian Tour's Order of Merit.
Chowrasia shot 72 and was still at three-under for 36 holes in tied 44th place, while Shiv Kapur (69) was at two-under 142 and in tied 57th place.
Gangjee is fourth with an earning of $103,636.25 while Chowrasia ($87,457.63) and Rashid ($75,687.50) seventh and ninth respectively.
For Chowrasia, this was the third top-10 of the year and he has also finished tied 11th once. Anirban Lahiri landed two eagles besides one birdie, one bogey and one double bogey in his 70.
Lahiri made a brilliant surge on the back nine to haul himself back into contention at the Philippine Open with a fine round of three-under 69 to bring him to even par after 36 holes and a tied 16th place.
Anirban Lahiri endured a frustrating opening day to card a three-over 75 even as SSP Chowrasia emerged as the best-placed Indian at tied 10th after the first round of the ICTSI Philippine Open here.
Chowrasia, who will be dividing his time between Asian and European Tours this year, carded a first round of three-under 68 and was two behind the co-leaders, who shot 66 each.
The punishing Delhi Golf Course bared its fangs to overnight leader Siddikur as he stumbled upon five bogeys and a triple bogey against five birdies to almost see his title hopes going up in smoke.
Shiv Kapur (72-77) and Jeev Milkha Singh (76-75) missed the cut, which fell at four-over 146.
Jeev, who carded 68 in the first round, took his total to nine-under 135, to stay just three shots behind the leader, Richard Sterne, who birdied the final hole at Emirates Golf Club to secure a narrow one shot halfway lead.
SSP was tied for fourth at five-under in the clubhouse as rain played spoilsport on the opening day at the Horizon Hills Golf and Country Club