Mangalam Drugs & Organics Reports Default on Loan Obligations to Major Banks
Mangalam Drugs & Organics Limited has reported that it is in default on loan obligations extended by Bank of Baroda and Bank of Maharashtra, a status persisting for over 30 days. The company confirmed the overdue amounts related to these facilities as of June 15, 2026, and stated that management is making arrangements to settle the outstanding amount at the earliest opportunity.The default concerns revolve around cash credit accounts with both institutions.
As per the provided data, the financial status regarding these loan obligations is detailed below:
| Bank Name | Loan Account Number (Cash Credit A/c) | Amount Overdue (Rs. in Lacs) | Date of Default Start |
|---|---|---|---|
| Bank of Maharashtra | 60383561246 | 951.97 | 17/10/2025 |
| Bank of Baroda | 04170500000243 | 606.08 | 20/10/2025 |
Mangalam Drugs & Organics Limited confirmed the status of default on loan obligations to both banks, noting that the duration of non-payment exceeds thirty days as per relevant guidelines for revolving facilities such as cash credit accounts. The company added that it is actively making arrangements to pay the overdue amount as soon as possible.
MANGALAM Stock Price Movement
Shares of Mangalam Drugs And Organics Limited are edging higher to ₹29.86 as of 3:24 PM today, gaining 0.57% in live trading. The stock remains volatile within its current session range, having traded against a low of ₹29.16 and with a volume reaching 22,663 shares.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.