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Nestle Philippines, Inc. Vs. Court Of Appeals, Et Al. 203 scra 504

NESTLE PHILIPPINES, INC., petitioner, vs. COURT OF APPEALS and SECURITIES AND EXCHANGE COMMISSION, respondents. Nepomuceno, Hofilena & Guingona for petitioner.

G.R. No. 86738 | 1991-11-13

D E C I S I O N


FELICIANO, J.:

Sometime in February 1983, the authorized capital stock of petitioner Nestle Philippines Inc. ("Nestle") was increased from P300 million divided into 3 million shares with a par value of P100.00 per share, to P600 million divided into 6 million shares with a par value of P100.00 per share. Nestle underwent the necessary procedures involving Board and stockholders approvals and effected the necessary filings to secure the approval of the increase of authorized capital stock by respondent Securities and Exchange Commission ("SEC"), which approval was in fact granted. Nestle also paid to the SEC the amount of...