BLS Shares Tank 13% Amid Visa Fraud Allegations

BLS International's shares plummeted 13% today due to allegations of visa fraud. The company has issued a clarification denying any involvement in the alleged irregularities.

The Spanish report suggested that BLS had started outsourcing its visa appointment scheduling process in 2011 with another Indian company, VFS Global. This means that the Ministry of Foreign Affairs contract has consistently been awarded to companies from Asia.

BLS International rejected any wrongdoing and stated that they have no evidence establishing any involvement in the alleged irregularities. They emphasized that their role is strictly administrative and follows the requirements prescribed by the competent authorities.