I tried 'create cut: extrude' option, but could only model the hole that extrudes through the whole thickness of the plate. But I want the hole extruding only through a depth less than the thickness of the plate.
This sounds like a three-dimensional problem rather than a shell problem. If you were doing it with shells then you would need to specify both a reduced thickness and an offset for the neutral plane. And you would have some fun interpreting the results from such a model.
Thank you Alessandro Naddeo and Angus Ramsay for your answers.
I modeled the hole by partitioning the shell with the required hole geometry. And i assigned different shell thickness for this hole by creating different sections each for the hole and other portion of the shell. And while assigning sections, i used mid-surface option. I got the results which seem okay as i compare with those of the case in through cut hole. But i dont really know whether i did correct modeling or not. Actually i am interested in natural frequencies and corresponding mode shapes for intact structure and damaged structure.