BLS International debarred from participating for tenders with India's foreign ministry for 2 years

BLS International, the technical solutions company, has been debarred from participating in any future tender with the Ministry of External Affairs (MEA). The prohibition will be in effect for a period of two years. 

In an exchange filing, the company said that it received this information from the foreign ministry on October 10. 

As a result of this action from MEA, the company cannot take part in future tenders of MEA and the India Mission abroad. 

The order for debarment has been issued on the account of allegations, including court cases and multiple complaints from passport applicants. The company added that it will assess the order and rely on legal remedies to address the issue. 

While the order takes effect, the company clarified and underscored that its current operations and businesses with the MEA will not be affected, and thereby will not affect the company's financial performance either.

The company management is yet to issue a statement on the matter. The Ministry has also not made any remarks on the matter as of today.

The New Delhi-based company is known for providing outsourced services for governments. It specialises in visa, passport, and consular services. BLS is also a global partner for embassies and governments.



When we look at the company shares, BLS International's stock dipped marginally on the last trading day of the previous week (Friday). There was a decline of ₹0.10 or 0.03% in the share price. The company's shares have seen a decline of 6.05% in the past 6 months. The current share price stands at ₹337.20.

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