Mangalam Drugs And Organics Limited Defaults on Loan Obligations to Banks
Mangalam Drugs And Organics Limited has announced that it has defaulted on its loan obligations with two major banks, Bank of Baroda and Bank of Maharashtra. The company reported that the default period exceeds 30 days.The declaration confirms that the company is in default on its loan accounts with both institutions, citing the required disclosure period of more than 30 days for the non-payment of interest or principal amount.
As of May 15, 2026, the overdue amounts and start dates for the default across the two loan accounts are detailed below:
| Sr.No | Name of Bank | Loan Account Number (Cash Credit A/c. No) | Amount Overdue (Rs. In Lacs) | Date of Start of Default |
|---|---|---|---|---|
| 1 | Bank of Maharashtra | 60383561246 | 951.97 | 17/10/2025 |
| 2 | Bank of Baroda | 04170500000243 | 606.08 | 20/10/2025 |
The company stated that it is making arrangements to pay the overdue amount as soon as possible.
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