-> If you have any other free channels please insert the bypass card and check whether it is working.
-> Enable channel 1/1/2 and add some other interface card [other than our bypass card] on it and please check whether it is reachable from switch and vice-versa.
-> Put the bypass interface card on other unit and test whether it is reachable and working.
-> device reboot and check whether channel/1/1/2 is getting up.
-> put a spare card [any interface card] into channel1/1/2 and check whether it is getting up
->put our bypass card situated presently in channel 1/1/2 in another device and make sure it is reachable or getting up.
-> if card is not working then we can rma bypass card, if channel 1/1/2 is faulty then i may need to consult with next level engg for subsequent troubleshooting