Default16 Apr 2026, 05:31 pm
Mangalam Drugs Defaults on ₹15.58 Cr Loans to BoB, BoM
AI Summary
Mangalam Drugs & Organics Ltd has disclosed a subsequent default on its loan obligations to Bank of Baroda and Bank of Maharashtra, exceeding 30 days as per SEBI regulations. The overdue amount for Bank of Maharashtra is ₹951.97 Lacs, with the default starting on October 17, 2025. For Bank of Baroda, the overdue amount is ₹606.08 Lacs, with the default commencing on October 20, 2025. The company has stated it is making arrangements to pay the overdue amounts as soon as possible. This disclosure is a follow-up to a previous intimation.
Key Highlights
- Mangalam Drugs defaulted on loans to Bank of Baroda and Bank of Maharashtra.
- Total overdue amount is ₹15.58 crore across two banks.
- Defaults exceed 30 days, triggering regulatory disclosure.
- Company is arranging to pay the overdue amounts soon.
- This is a subsequent disclosure of ongoing defaults.