The Commission for the Investigation of Abuse of Authority (CIAA) on Tuesday has arrested four executives of Nepal Oil Corporation (NOC) to investigate filed cases regarding the distribution of bonus to their employees despite an estimated loss of US$248975000.00 (rupees 25 billion).
According to the press release signed by the NOC Co-Attorney and Spokesperson Shreedhar Sapkota on 24 September 2013, the CIAA has arrested the NOC Acting Executive Director Suresh Kumar Agrawal, Director Nagendra Shah and Managers Kamal Prasad Sharma and Netra Prasad Kafle to look into alleged corruption cases.
According to NOC sources, the arrestees hiked the prices of petroleum products two times within six months because of their nexus with oil smugglers and private dealers.