Eg. - nifty expires at 24200 and I was short nifty PE 24250 and 24400 strikes but didn’t square off on expiry, how will it be settled (I know its cash settled) if the premium received by me is less than the intrinsic value of the call will loss be shown and will there be any additional brokerage charges for it
If the contract expires, the considerations of premium and intrinsic value become irrelevant. You get to keep the premium.
but as the option is expiring in the money, my net position will be loss even though I get to keep the premium
How is the option expiring ITM? You say Nifty expires at 24200 and you shorted 24250 CE. Please confirm first whether you have shorted call or put 
yeah! my bad its PE I have made the correction, now tell me ?
@Walker,
AFAIK, I guess it should work like this. Pls crct me if I am wrong.
Lets assume you sold 24250PE for 70 Rs.
After expiry of Nifty at 24200, Your decay benefit received is +20 Rs
Your loss due to PE-ITM is SPOT-Strike = 24200-24250= -50Rs.
Total PNL is 70-50 = +20 Rs.
As far as I know, there is no brokerage charged for buy leg, as your position is not squared off.
Nah. If he has sold for Rs 70/- then his net profit will be Rs 20/-
corrected… Thanks