According to Spanish media reports, the Indian visa services company BLS International has been drawn into a Spanish National Court investigation with links to an alleged visa fraud network at Spain’s consulate in Algiers.
The reports further stated that the investigation has been broadened to scrutinise the involvement of firms responsible for managing visa appointments and document processing, such as BLS, which is engaged by Spain’s Foreign Ministry.
The court has explicitly mentioned “processing platforms such as BLS” in its inquiry regarding companies that are collaborating. In 2016, BLS received a contract worth €175 million from the Spanish Foreign Ministry to oversee visa appointments and document processing at select consulates, the report added.
BLS International Responds
The company released a statement on the exchanges on August 24. In the statement, the company said it ‘categorically’ rejects any involvement in the alleged irregularities referred to in media reports.
The company said there is no evidence establishing any wrongdoing by BLS
International or its employees in relation to the issuance of visas.
The company further added that its role is strictly administrative and is carried out in accordance with the requirements prescribed by the competent authorities. All decisions relating to the processing and issuance or refusal of visas rest solely with the relevant diplomatic and consular authorities.
Stock Reaction
The shares of BLS International have been hit hard today, falling over 12% intraday, marking its biggest single-day loss in the whole of 2026 so far.
The company’s shares fell 12.7% to an intraday low of ₹236.80 on Monday and were trading at ₹241.15 as of 1.36 pm, down 11.11%. The stock has only fallen in 3 out of the past 10 trading sessions. It has declined over 14% in the past six months of trading and about 24% so far in 2026.
The current price of ₹241 is down 38.65% from its 52-week high of ₹392.85 per piece.
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