Mangalam Drugs And Organics Limited has informed the Exchange about Fraud/Default/Arrest
MANGALAM · price
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Mangalam Drugs and Organics Limited has disclosed a loan default to Bank of Maharashtra and Bank of Baroda. The company has defaulted on Cash Credit accounts with Bank of Maharashtra (Rs. 951.97 lakhs, default started 17/10/2025) and Bank of Baroda (Rs. 606.08 lakhs, default started 20/10/2025). The total overdue amount stands at Rs. 1,558.05 lakhs (approximately Rs. 15.58 crores). The defaults have exceeded 30 days as per SEBI regulations requiring mandatory disclosure. The company states it is making arrangements to pay the overdue amounts as soon as possible. This is a subsequent intimation following an earlier letter dated 16/02/2026.
This is a significant negative development for shareholders as the company has failed to repay bank loans exceeding Rs. 15.5 crores, which could lead to further financial stress, potential credit rating downgrades, and possible regulatory actions from lenders or SEBI.