Decision
Motoomull v. Paz
G.R. No. 45302 · 1990-07-24 · PARAS, J. · LawPhil
LATCHME MOTOOMULL, and MANUEL LACSON, petitioners, vs. JOFFRE DELA PAZ, FILOMENA ARANAS, LADHO CHUGANI, BHAGWANI CHUGANI, THE COURT OF APPEALS, and THE SECURITIES & EXCHANGE COMMISSION, respondents. Estanislao A. Fernandez and Victor C. Fernandez for petitioners. Calixto Zaldivar and Hilado, Hagad…
PARAS, J.:
This is a petition for review on certiorari of the November 4, 1976 resolution of the Court of Appeals in CA-G.R. No. 05108-SP denying the issuance of a writ of preliminary injunction and lifting the restraining order previously issued; and the December 17, 1976 resolution of the same court denying the motion for reconsideration. All the parties in this case are stockholders of Sarkara Trading Corporation. Said corporation was incorporated on September 7, 1973, with an authorized capital stock of P2,000,000.00, divided into 200,000 shares of the par value of P10.00 per share.
Of the authorized stock, 51,500 shares valued at P515,000.00 were subscribed, of which P300,000.00 was paid up. The incorporators of the corporation with their initial capital contributions, were - NAME NO. OF SHARES SUBSCRIBED AMOUNT AMOUNT PAID ON SUBSCRIPTION Pacifico Aranas 5,000 P50,000 P25,000 Filomena G. Aranas 5,000 50,000 25,000 Latchme J. Motoomull 10,000 100,000 70,000 Manuel Lacson 10,000 100,000 70,000 Joeffre T. de la Paz 10,000 100,000 70,000 Lilaram Parmanand 5,000 50,000 25,000 Bhagwandas L. Chugani 2,500 25,000 12,500 Ladho L. Chugani 2,500 25,000 12,500 Rosanna M. Jesswani 1,500 15,000 10,000 TOTAL