Loan & Debt15 Sept 2026, 06:50 pm
Mangalam Drugs Defaults on Bank Loans Exceeding ₹15 Cr
AI Summary
Mangalam Drugs & Organics Ltd has officially disclosed a default on its loan obligations to Bank of Baroda and Bank of Maharashtra. The company has exceeded the 30-day grace period for repayment on two cash credit accounts. The total overdue amount is ₹1557.27 Lakhs, with ₹951.19 Lakhs owed to Bank of Maharashtra and ₹606.08 Lakhs to Bank of Baroda. The company states it is making arrangements to pay the overdue amounts as soon as possible.
Key Highlights
- Company has defaulted on bank loan obligations exceeding 30 days.
- Total overdue amount stands at ₹1557.27 Lakhs.
- Defaults are with Bank of Maharashtra and Bank of Baroda.
- Company is arranging to clear the overdue amounts.
Price Impact
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