Mangalam Drugs Defaults on Loan Obligations to Two Banks

Mangalam Drugs and Organics Limited has officially declared a subsequent default on its loan obligations to Bank of Baroda and Bank of Maharashtra. The company has exceeded the 30-day overdue period for payments. Specifically, the default involves ₹951.19 Lacs for Bank of Maharashtra (Cash Credit A/c. No. 60383561246) and ₹606.08 Lacs for Bank of Baroda (Cash Credit A/c. No. 04170500000243). The company states it is making arrangements to pay the overdue amounts as soon as possible. This intimation follows a previous letter dated February 16, 2026.