BLS International shares fall 14% on report of alleged involvement in visa fraud case; firm issues clarification

In response to the report, BLS International “categorically rejected” allegations of involvement in visa irregularities, according to a regulatory filing.

“BLS International categorically rejects any involvement in the alleged irregularities referred to in the media report. There is no evidence establishing any wrongdoing by BLS International or its employees in relation to the issuance of visas,” the company said.

The firm further stated that its role is strictly administrative and is carried out in accordance with the requirements prescribed by the competent authorities.

The firm added that all decisions relating to the processing and issuance or refusal of visas rest solely with the relevant diplomatic and consular authorities, further saying that it remains committed to the “highest standards of integrity, transparency, compliance and service delivery, and to its role as a trusted service partner to governments and citizens across the world”.

The Schengen visa fraud case

The investigation began following official communication from the Spanish Embassy in Algeria, with officials alerting the authorities to a network allegedly profiting from the fraudulent issuance of Schengen visas, residence, and work permits.

According to the report, the network would issue visas, residence, and work permits to Algerian citizens who did not meet the qualification requirements, with applicants allegedly paying the members of the network to arrange the procedures using unverified, altered or falsified documents. The report claims that the network allegedly charged applicants 25,000 euros per family.

Spanish authorities claim that the consulate officials and Algerian staff worked with outside third-party companies providing administrative services, including appointment scheduling and document management, to prioritise applicants who paid bribes.

In some cases, the network allegedly facilitated applicants in obtaining and consolidating their residency status in Spain or France.

In April 2026, the chancellor of the Spanish consulate in Algeria, Vicente Moreno, and a local employee were arrested in Spain in relation to the case.

BLS International stock performance

At around 3:13 PM, the scrip was trading 11.03% lower at ₹241.37 per equity share on Monday, August 24.

The shares have lost 12% in the past week but jumped 3% over the month. On a year-to-date (YTD) basis, it has tumbled 24%.

While the stock hit a 52-week high of ₹392.85 per unit on August 26, 2025, it touched a year’s low of ₹218.90 apiece on March 23, 2026.

BLS International has a total market capitalisation of ₹9,951.78 crore as of August 24, 2026, according to data on the NSE.