Crossword Genius

Under obligation having gone round where the cargo is (8)

Ross

I believe the answer is:

beholden

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'under obligation' is the definition.
(thesaurus)

'gone round where the cargo is' is the wordplay.
I cannot quite see how this works, but
'round' could be 'o' (round can mean a round object) and 'o' is found within the answer.
'is' could be 'be' and 'be' is found in the answer.
This may be the basis of the clue (or it may be nonsense).

'having' is the link.

Can you help me to learn more?

(Other definitions for beholden that I've seen before include "Bound" , "Owing thanks, indebted" , "Obliged" , "Under an obligation" , "Owing gratitude (to)" .)

I've seen this clue in The Irish News.
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