Option settlement on expiry

I had sold 4 lots of Bank Nifty 3rd March 35000 PE in NRML at price 55 and did not squared off my position ?
The Last traded price was 54.2 only.
Will there be any settlement charges on this position ?

What happens in the settlement of this option done by zerodha ?

Please suggest

There are no additional charges for letting your position expire. Brokerage charge of Rs. 20 will be applicable.

This position will be settled by the exchange at the intrinsic value (Strike Price - Spot Price).