DEFECT LIFE CYCLE:
 Intially, when the tester identifies/reports a defect the 
status is NEW by default. The tester Forwards the defect to 
team lead .The team lead reviews the defect to determine 
whether or not to consider it for repair.If the defect is 
not accepted then the status is REJECTED , if the defect is 
accepted for repair the status is OPEN.The team lead 
forwards the defect for repair to the development team with 
priority(very high,high,medium,etc..)The concerned 
developer repairs the defect and changes its status to 
FIXED.The tester retest the defect to make sure it does not 
recur.If the defect doesn't recur the status is CLOSED or 
if the defect recurs the status is RE-OPENED and the cycle 
repeats.

1. NEW
2. OPEN
3. FIXED
4. CLOSED

firstly know about what is a bug? 
Bug is nothing but deviation from what we are expecting 
i.e., difference between expected result and the actual 
result .
If the test engineer encounters bug while executing test 
cases  first he will try to reproduce it in different 
platforms the same bug is coming or not and confirm it with 
developer or team lead (whom so ever is concern) whether it 
is bug or not. Then he will post the bug to the 
dev/teamlead in  any bug tracking tool (like bugzilla). 
The TE should draft a bug in a detailed manner by using 
following attributes like: 

Project or product
Version
Module
Submodule
Priority 
Severity
Summary  
Description under description:  Steps to reproduce should 
be in such a way that when developer performs these steps 
he should be able to reproduce the bug i.e., from launching 
the Internet explorer to the screen in which the bug has 
found.
and 
Error noticed
Expected result
Test environment:  like browser, operating system, computer 
etc.. 
Testers notes
Screen shots as a proof
when the assigned to the developer or team lead,then  
Developer will fix the  resolution types as any one of the 
following 
Resolve fixed
Resolve wont fix
Resolve works for me
Resolve invalid
Resolve duplicate
Resolve later
If the Resolution type as fixed then the T.E. will verify 
whether it is fixed by satisfying the functionality of the 
application then T.E. will close the bug otherwise he will 
again reopen the bug if it is not satisfying the 
functionality

If the bug is of wont fix means developer does not want to 
fix as it affects the entire application or dont require to 
fix

If the bug is of works for me i.e, in developers 
environment it is working fine then T.E. again try to 
reproduce the bug and he will post the bug with some 
additional (detailed) information

If the resolution type as invalid in developer doesnot 
accept it as a bug or it does not match the  requirements.

If the bug is of duplicate somebody has already posted the 
same bug then the resolution will be duplicate

If the resolution type is of later it means that he will 
fix the bug in next version

Statuses associated with a bug: 
New: 
When a bug is found/revealed for the first time, the 
software tester communicates it to his/her team leader 
(Test Leader) in order to confirm if that is a valid bug. 
After getting confirmation from the Test Lead, the software 
tester logs the bug and the status of ‘New’ is assigned to 
the bug. 

Assigned: 
After the bug is reported as ‘New’, it comes to the 
Development Team. The development team verifies if the bug 
is valid. If the bug is valid, development leader assigns 
it to a developer to fix it and a status of ‘Assigned’ is 
assigned to it. 

Open: 
Once the developer starts working on the bug, he/she 
changes the status of the bug to ‘Open’ to indicate that 
he/she is working on it to find a solution. 

Fixed: 
Once the developer makes necessary changes in the code and 
verifies the code, he/she marks the bug as ‘Fixed’ and 
passes it over to the Development Lead in order to pass it 
to the Testing team. 

Pending Retest: 
After the bug is fixed, it is passed back to the testing 
team to get retested and the status of ‘Pending Retest’ is 
assigned to it. 

Retest: 
The testing team leader changes the status of the bug, 
which is previously marked with ‘Pending Retest’ 
to ‘Retest’ and assigns it to a tester for retesting. 

Closed: 
After the bug is assigned a status of ‘Retest’, it is again 
tested. If the problem is solved, the tester closes it and 
marks it with ‘Closed’ status. 

Reopen: 
If after retesting the software for the bug opened, if the 
system behaves in the same way or same bug arises once 
again, then the tester reopens the bug and again sends it 
back to the developer marking its status as ‘Reopen’. 

Pending Rejected: 
If the developers think that a particular behavior of the 
system, which the tester reports as a bug has to be same 
and the bug is invalid, in that case, the bug is rejected 
and marked as ‘Pending Reject’. 

Rejected: 
If the Testing Leader finds that the system is working 
according to the specifications or the bug is invalid as 
per the explanation from the development, he/she rejects 
the bug and marks its status as ‘Rejected’. 

Postponed: 
Sometimes, testing of a particular bug has to be postponed 
for an indefinite period. This situation may occur because 
of many reasons, such as unavailability of Test data, 
unavailability of particular functionality etc. That time, 
the bug is marked with ‘Postponed’ status. 

Deferred: 
In some cases a particular bug stands no importance and is 
needed to be/can be avoided, that time it is marked 
with ‘Deferred’ status

@anupama 
pending retest,pending rejected etc status which u have  
mentioned all these really will be there  in real time? 
actually i don't hav idea thts y i'm asking u...

New: first time when the bug is raised that will be in new 
state and that will send to developer.
Open: developer will open the bug.
Fixed:developer will fix the bug and resend to tester if 
the developer will not statisfied about the bug then it 
will be in hold state. 
Hold: when there is clash between developer and tester 
about the bug then it will be in hold state and bug is 
clariffied in meeting in presence of project manager
Closed: when the bug is fixed then finally it will be in 
closed

Please note:

When closing a defect the assigned to field should be the 
user name from whom the defect was raised.This completes 
the defect cycle.

Hi sowjanya,

   yes pending retest and pending reject status are there 
in real time

New
         /
        open
          /
        fixed
          /
re-open-no-retest
           / yes
        closed