Intimation of subsequent default of Bank under Para A sub-paragraph 6 of Schedule III-Subsequent default
MANGALAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mangalam Drugs & Organics Ltd has disclosed a subsequent default on two cash credit loan accounts with Bank of Maharashtra and Bank of Baroda. The default with Bank of Maharashtra is for Rs. 951.97 lakhs (started 17/10/2025), and with Bank of Baroda is for Rs. 606.08 lakhs (started 20/10/2025). Both defaults have been ongoing for more than 30 days as per SEBI regulations. The total overdue amount stands at approximately Rs. 1,558 lakhs. This is a follow-up to an earlier intimation dated 16/02/2026. The company states it is making arrangements to pay the overdue amounts as soon as possible.
This is a significant credit event indicating the company has failed to repay bank loans on time. Such defaults typically lead to banks classifying these accounts as Non-Performing Assets (NPA), triggering potential rating downgrades and increased lender actions against the company.