Back

Securities and Exchange Commission Vs. GMA Network, Inc

SECURITIES AND EXCHANGE COMMISSION, Petitioner, versus GMA NETWORK, INC., Respondent.

G.R. No. 164026 | 2008-12-23

D E C I S I O N


Tinga, J.:

Petitioner Securities and Exchange Commission (SEC) assails the Decision[1] dated February 20, 2004 of the Court of Appeals in CA-G.R. SP No. 68163, which directed that SEC Memorandum Circular No. 1, Series of 1986 should be the basis for computing the filing fee relative to GMA Network, Inc.'s (GMA's) application for the amendment of its articles of incorporation for purposes of extending its corporate term.

The undisputed facts as narrated by the appellate court are as follows:

On August 19, 1995, the petitioner, GMA NETWORK, INC., (GMA, for brevity), a domestic corporation, filed an application for...