bmohr1954 is probably correct, the bolts up higher were likely loose. Has the original poster commented on whether the bolts were loose? With all the banter about bulges in tires and outriggers vs stabilizers I may have missed it.
That is a pretty easy welding project. I'd not pay $2000 for mounts if they can be welded up in a couple of hours. Then I'd look at the failure area and see if there is something to do to prevent a repeat. Obviously torque and locktite the bolts that came loose, but perhaps there are other means of reinforcing this area. This is not a hard repair for a competent welder.
Not to dive into the tire bulge debate, but no doubt the compact or farm tractor with a backhoe attachment is far less robust than a dedicated construction backhoe. But they aren't pushing $100k to buy a nice new one either, and you can remove the backhoe in minutes and mow your field. I own a nice track hoe, and it is smooth and powerful, but I bet to replace my pilot controls, just the controls, would cost as much as a new backhoe attachment in it's entirety. We can't expect them to be the same. They are a different animal. We sell over 100 backhoe attachments per year. People are tired of shovels, they need to dig some trenches, perhaps a footing, remove a few trees and so forth. These work great. But if you are digging septics every day or think you want to dig a basement, you need to rent or buy a construction grade machine.
Not to offend anyone at Mahindra, but I think I'd be slow to accuse an operator of abuse based on the premise that if it broke it did so because it was overloaded. What if the area was brittle due to improper welding processes? Tie goes to the runner in my book, but I don't know the details of this claim at all. And if the bolts were loose, how long did that take? If there were loose within a few hours of backhoe use, were they ever tight? Were they checked by the dealer in his PDI? Did they have locktite if the specs required that? I understand a customer needs to keep an eye on his machine, watch out for loose lug bolts, loader bolts, backhoe bolts and such, but they also need to be designed and installed in a manner that keeps them tight for long periods of time.
The good news is, as stated already, this is a piece of cake to fix.