BJP members Jaswant Singh, Yashwant Sinha, Dharmendra Pradhan and Ravishankar Prasad walked out of the meeting which was expected to finalise the list of persons who shall depose before the Committee.
The BJP leaders insisted that it was necessary to call Singh and Chidambaram for a "fair investigation" into the 2G spectrum allocation scam of 2008.
"We walked out of the meeting after Congress members used foul language when we demanded settling the issue of list of witness which has been pending for eight weeks now. We walked out today, we will take a call on resignation later," Sinha told reporters after the walkout.
"We had demanded calling the Prime Minister and Finance Minister P Chidambaram. We were accused by Congress members of turning JPC into a kangaroo court (mock court without any regard for principles of justice)," he said.
Prasad said: "For a fair investigation, it is necessary that we call the Prime Minister and Finance Ministers."
The BJP has six members in the 30 member JPC -- 20 from the Lok Sabha and 10 from the Rajya Sabha -- representing different parties.
The Committee is chaired P C Chacko, a leader of the Congress party which has 10 other members on the Committee.