Philippine Agricultural Products

December 2, 1982 Philippine Agricultural Products Industries, Inc. (Agro-Industrial Complex Ecology, Inc.) 990 Pinagbarilan, Pasay City Metro Manila Attention : Mr . Gabriel F . Anadase Sir : This has reference to your letter dated November 9, 1982, regarding your resolution dated November 5, 1982 requesting this Commission to reverse its order dated June 11, 1982, disapproving your corporation's application for increase of your capital stock from P2,000,000.00 to P100,000,000.00. In reply thereto, please be informed that this Commission cannot grant your request considering that the aforementioned order was issued after exhaustive research and verification of your titles, plans and documents and in coordination with the technical experts of the Land Registration Commission and considering further that said titles have been found by this Commission to be insufficient as an evidence of ownership in accordance with Presidential Decree No. 892 to merit approval of your application for increase of its capital stock. Please be informed further that inasmuch as the aforementioned order was approved by the Commission in its meeting of June 4, 1982, the same is reviewable by the Supreme Court in accordance with the last paragraph of Sec. 6 of Presidential Decree No. 902-A as amended by , quoted hereunto for your guidance: "The aggrieved party may appeal the order, decision or ruling of the Commission sitting en banc to the Supreme Court by petition for review in accordance with the pertinent provisions of the Rules of Court." cdlex Please be guided accordingly. Very truly yours, (SGD.) JESUS J. VALDES Associate Commissioner