Mangalam Drugs Defaults on Bank Loans: Over ₹15 Crore Overdue
Mangalam Drugs and Organics Limited has defaulted on loans from Bank of Baroda and Bank of Maharashtra. As of July 15, 2026, the company owes ₹951.19 lakhs (₹9.51 crore) to Bank of Maharashtra and ₹606.08 lakhs (₹6.06 crore) to Bank of Baroda. The defaults began in October 2025.
Loan defaults can severely impact a company's financial health, credit rating, and future borrowing capacity, leading to significant operational challenges.
The company has defaulted on its bank loan obligations, indicating financial distress.
Mangalam Drugs and Organics Limited has disclosed a default on its loan obligations to Bank of Baroda and Bank of Maharashtra, with the overdue period exceeding 30 days. The company reported that as of July 15, 2026, the overdue amount to Bank of Maharashtra is ₹951.19 lakhs (₹9.51 crore) from cash credit account number 60383561246, with the default starting on October 17, 2025. Additionally, the overdue amount to Bank of Baroda is ₹606.08 lakhs (₹6.06 crore) from cash credit account number 04170500000243, with the default commencing 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 compliance 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 without application of materiality guidelines.
This disclosure follows up on a previous letter dated February 16, 2026, regarding the same loan defaults. The Chief Financial Officer, Jeevan Dalvi, confirmed the details of the defaults.
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.