KATHMANDU: The Finance Committee of the Legislature Parliament has formed a probe panel to investigate into the alleged financial irregularities in purchasing the land of the Nepal Oil Corporation (NOC).

The Committee meeting held today constituted a panel headed by lawmaker Abdul Rajjak while Sarswati Bajimaya, Ichchharaj Tamang, Nardevi Pun, Srijana Taramu and Ramesh Prasad Kurmi are the members of the panel.

Committee President Prakash Jwala said that the sub-committee would submit its report to the Committee after a field study over the alleged irregularities.

The media reports claimed that the NOC officials have been involved in multi million irregularities while purchasing land plots in Jhapa, Sarlahi, Bhairahawa and Chitwan districts for the fuel storage.

During the meeting, Chairman of NOC Board of Directors Prem Kumar Rai shared about the policy on land procurement while NOC Managing Director Gopal Bahadur Khadka claimed that the decision to purchase the land was as per the law.

President of the Consumers' Welfare Protection Forum Jyoti Baniya stated that thousands of rupees have been misappropriated while purchasing land for the NOC and demanded action against the accused.

At the meeting, lawmakers accused the NOC leadership of pushing ahead the process to purchase land while saying the value cost was beyond the market value. They also demanded action against the accused.

Likewise, the meeting also discussed the report of misappropriation of fund during the sale of land of the Agricultural Development Bank.Chief Executive Officer of the Bank Lila Prakash Sitaula refuted the accusation however.

The meeting also concluded that a subcommittee would be formed only after launching further investigation into the case.