Comment on Policy on settlement of compulsory delivery derivative contracts — Update Oct 2019
Abinash,
Since your put position is deep OTM, there won’t be any liquidity. Since it is OTM, there won’t be any physical delivery obligation.
Your BHEL 60 CE is also OTM, so there won’t be any physical delivery obligation. However, if BHEL moves above 60, physical delivery will apply.