Mangalam Drugs Defaults on Bank Loans: ₹15.57 Crore Overdue
Mangalam Drugs and Organics Limited has defaulted on bank loans totaling ₹15.57 crore. The company owes ₹9.51 crore to Bank of Maharashtra and ₹6.06 crore to Bank of Baroda. Defaults began in October 2025, and the company is arranging to pay the overdue amounts.
A default on bank loans is a significant event that can severely impact the company's creditworthiness, operations, and investor confidence.
The company has defaulted on its loan obligations, indicating financial distress and potential liquidity issues.
Mangalam Drugs and Organics Limited has disclosed defaults on its loan obligations to Bank of Baroda and Bank of Maharashtra, with the overdue period exceeding 30 days.
As of June 15, 2026, the company has an overdue amount of ₹951.19 lakhs (₹9.51 crore) in its cash credit account with Bank of Maharashtra (Account No. 60383561246). The default in this account commenced on October 17, 2025.
Additionally, a sum of ₹606.08 lakhs (₹6.06 crore) is overdue in the cash credit account with Bank of Baroda (Account No. 04170500000243), with the default starting on October 20, 2025.
The company stated that arrangements are being made to pay the overdue amounts as soon as possible. This disclosure is made in accordance with Regulation 30, Part A of Schedule III of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015, which mandates disclosure of defaults on loan obligations.
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Mangalam Drugs And Organics Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Mangalam Drugs And Organics Limited. Read the original for the full detail.