Mangalam Drugs And Organics Limited has informed the Exchange about Fraud/Default/Arrest
MANGALAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mangalam Drugs and Organics has disclosed to the stock exchanges that it has defaulted on its loan obligations to two banks for over 30 days. The company owes Rs. 979.21 lakhs to Bank of Maharashtra (cash credit account, default started 17 October 2025) and Rs. 606.08 lakhs to Bank of Baroda (default started 20 October 2025), taking total overdue amount to roughly Rs. 15.85 crores as on 15 March 2026. The company has stated that it is making arrangements to pay the overdue amounts as soon as possible. The disclosure was made under SEBI's Listing Obligations and Disclosure Requirements Regulations, which require listed companies to immediately inform exchanges about any loan default.
This is a negative signal for shareholders — the company is struggling to service its debt and has been in continuous default for nearly five months, which raises concerns about its liquidity and financial health. Such defaults can trigger penalties, higher borrowing costs, and potential action by lenders, which may put further pressure on the stock price.