BLS International Slammed by Visa Fraud Probe
BLS International Services has taken a hit after being drawn into a Spanish National Court investigation over alleged visa fraud. The company's shares slumped 11.37% to Rs 240.55 following media reports that linked it to an alleged visa fraud network at Spain's consulate in Algiers.
The investigation, led by Judge Mar Tard, was expanded to examine the role of companies handling visa appointments and document processing, including BLS International, which is contracted by Spain's Foreign Ministry.
In a statement, BLS International categorically denied any involvement in the alleged irregularities, stating that there was 'no evidence establishing any wrongdoing' by the company or its employees in relation to visa issuance. The company emphasized that its role is strictly administrative and follows guidelines set by relevant authorities, with all decisions on visa processing resting with diplomatic and consular authorities.