Shiv followed his opening round of 71 with a level-par 70 and his 36-hole total of 141 was just outside the cut line set at 140.
Chowrasia's goose was cooked in the first round itself when he carded four-over 74 and even though the Kolkata pro came up with an improved one-under 69 in the second round, it was just not enough to hang in for weekend action.
South African Louis Oosthuizen and Englishman Sam Hutsby, meanwhile, continue to go neck-and-neck and they turned in identical seven-under 63 to share the halfway lead at 10-under 130.
Shiv dropped three bogeys in his front nine but still soldiered on to lie one-under after 15 holes. But just when the Delhi pro looked like making the cut, he dropped a shot on the 16th and that proved costly.
Chowrasia's round included four birdies, against three bogeys, even though that was not enough to salvage his campaign.