Subsequent intimation: default on bank loan accounts at Bank of Maharashtra and Bank of Baroda
Mangalam Drugs & Organics has declared a subsequent default on its loan obligations to Bank of Maharashtra and Bank of Baroda, in each case for a period exceeding 30 days.
By ScoutQuest · · 2 min read
- Amount overdue - Bank of Maharashtra as on 15/10/2026
- Rs. 951.19 Lacs
- Amount overdue - Bank of Baroda as on 15/10/2026
- Rs. 606.08 Lacs
- Default period
- exceeding 30 days
A subsequent intimation of default on two cash credit accounts
- The company has declared a subsequent default on its loan obligations to Bank of Maharashtra (Cash Credit A/c. No. 60383561246) and Bank of Baroda (Cash Credit A/c. No. 04170500000243).
- The default is stated to have continued for a period exceeding 30 days.
- Amount overdue as on 15/10/2026: Rs. 951.19 Lacs for Bank of Maharashtra and Rs. 606.08 Lacs for Bank of Baroda.
- The date of start of default is shown as 17/10/2025 for Bank of Maharashtra and 20/10/2025 for Bank of Baroda.
- The company states it is making arrangements to pay the overdue amount as soon as possible.
How the disclosure is framed
A listed company informs the exchanges when it does not pay the interest or principal amount in full on the date the debt has become due and payable. For revolving facilities such as cash credit, the update notes that an entity is considered to be in default if the outstanding balance remains continuously in excess of the sanctioned limit or drawing power, whichever is lower, for more than thirty days.
What a cash credit default means
A cash credit account is a running working capital credit line. Being in default means the account has stayed beyond the permitted limit for over a month. This is the kind of information investors use to assess a company's debt servicing position.
What the company has said
The update states that the company is making arrangements to pay the overdue amount as soon as possible.
Points to track
- Two lenders are named, with the amount overdue against each, so the size of the default can be followed in later updates.
- The amounts are shown as on 15/10/2026.
- The company describes this as a subsequent intimation of default on its loan obligations.
Also from Mangalam Drugs & Organics
Statutory Auditor Retires on Term Completion; New Statutory and Secretarial Auditors Appointed at AGM
24 Sep 2026
Shareholders approve new Statutory and Secretarial Auditors for 5 years; outgoing auditor retires
24 Sep 2026
More numbers
- Amount overdue - Bank of Maharashtra951.19 Rs. In Lacs
- Amount overdue - Bank of Baroda606.08 Rs. In Lacs
- Period of default threshold30 days
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