Default15 Jul 2026, 05:50 pm
Mangalam Drugs Defaults on Bank Loans Exceeding ₹15 Crore
AI Summary
Mangalam Drugs & Organics Ltd has filed an intimation regarding a subsequent default on its bank loan obligations. The company has defaulted on payments to Bank of Baroda and Bank of Maharashtra for a period exceeding 30 days. The overdue amounts are ₹606.08 Lacs for Bank of Baroda and ₹951.19 Lacs for Bank of Maharashtra, with the defaults starting on October 20, 2025, and October 17, 2025, respectively. The company states it is making arrangements to pay the overdue amounts as soon as possible.
Key Highlights
- Mangalam Drugs & Organics Ltd defaults on bank loan obligations.
- Total overdue amount exceeds ₹15 Crore across two banks.
- Defaults on loans from Bank of Baroda and Bank of Maharashtra.
- Company is arranging to clear overdue amounts.
Price Impact
More from MANGALAM