Mangalam Drugs & Organics Ltd Declares Default on Loan Obligations with Two Banks
Mangalam Drugs & Organics Ltd has confirmed a default on its loan obligations concerning Cash Credit accounts held with Bank of Baroda and Bank of Maharashtra, stating that the company is making arrangements to settle the overdue amounts as soon as possible.The company’s declaration pertains to loan facilities where outstanding balances exceeded sanctioned limits for periods exceeding thirty days. As per the details provided in the latest statement, the defaulted obligations span two different institutions. The total overdue amounts, reported as of June 15, 2026, are detailed below:
| Bank Name | Loan Account Number | Amount Overdue (Rs in Lacs) | Date of Start of Default |
|---|---|---|---|
| Bank of Maharashtra | 60383561246 | 951.19 | 17/10/2025 |
| Bank of Baroda | 04170500000243 | 606.08 | 20/10/2025 |
Mangalam Drugs & Organics Ltd confirmed that the defaults relate to the respective Cash Credit accounts and specified the associated account numbers for both Bank of Maharashtra and Bank of Baroda.
The company stated that management is actively working on arrangements to clear the overdue amounts promptly following this declaration.
MANGALAM Stock Price Movement
Today, shares of Mangalam Drugs And Organics Limited edged up, closing at ₹27.93 after gaining 2.12%. The stock traded within a tight intraday range, finding support from a low of ₹27.56 and reaching a high of ₹28.79 during the trading session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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