Mangalam Drugs Defaults on Bank Loans Exceeding ₹15 Crore
Mangalam Drugs and Organics Limited has defaulted on loan obligations to Bank of Baroda and Bank of Maharashtra. Overdue amounts are ₹9.51 crore and ₹6.06 crore respectively. The company is arranging to pay the overdue amounts. The defaults began in October 2025.
Defaulting on bank loans can have significant repercussions on the company's financial health, credit rating, and future borrowing capabilities.
The company has defaulted on its bank loan obligations, which is a negative financial event.
Mangalam Drugs and Organics Limited has disclosed a default on its loan obligations to Bank of Baroda and Bank of Maharashtra, with the overdue amounts exceeding 30 days. The default pertains to cash credit accounts.
As of September 14, 2026, the overdue amount for Bank of Maharashtra (Account No. 60383561246) is ₹951.19 Lakhs, with the default starting on October 17, 2025. For Bank of Baroda (Account No. 04170500000243), the overdue amount is ₹606.08 Lakhs, with the default commencing on October 20, 2025. The company is making arrangements to clear the overdue amounts as soon as possible.
This disclosure is made in accordance with Regulation 30, Part A of Schedule III of the SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015, which mandates disclosure of defaults on loan obligations.
What to do with a filing like this
Mangalam Drugs And Organics Limited filed this with the NSE as a statutory disclosure, categorised under fraud/defaults disclosure. 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.