how call and put is exercised after expiry.

#1
If we have stock of reliance 500 shares and we sold call of reliance at strike price of 1500. and reliance closed at Rs. 1515 at end of expiry.
so now my call is ITM, and If do not squared off reliance call of strike price 1500 till expiry.

Now I wanted to know it is clearing house is settled but from below options, how they settled.
i) it is settled like my reliance stock of 500 shares will be debited from demat account and I got amount of INR 1500*500 in my ledger.
ii) or it is settled like clearing house will buy back reliance 1500 strike price call at a cost of Rs. 15.
 

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