In Matter of P.S.J. Carlos Development Corporation

 [PED * CASE NO. 95-1915. January 13, 1997.]IN THE MATTER OF P.S.J. CARLOS DEVELOPMENT CORP.O R D E RThis pertains to the referral for appropriate action involving subject Corporation from the Supervision and Monitoring Department (SMD) to the Prosecution and Enforcement Department (PED) of this Commission. The Supervision and Monitoring Department (SMD) found that subject corporation failed to comply with SMD's directive(s) dated October 11, 1994 and January 17, 1995 relative to the requirement of transferring title(s) of real properties used as paid-up capital under the name of the corporation so formed and furnishing the Commission copy of the Transfer of Certificate of Title under the corporation's name. cdaThe properties consist of six(6) parcels of land and improvements situated at Industria Street, 1291 Street, Labores Street, Pandacan, Manila and San Bartolome, Novaliches, Quezon City, owned and registered in the name of POTENCIANA S.J. CARLOS, single, and more particularly described, as follows:TCT NOTaxKindAreaF.M.V Declaration No.        86688B-092-00812Land93.85P610,025.00  Improvement 319,455.0083958B-092-00491Land56.30365,950.00171699C-097-03431Land4,98312,457,500.00171601C-097-03451Land4981,494,000.00284287C-097-03819Land2951,178,000.00286288C-097-03811Land294——————   TotalP16,424,930.00    ============ On May 16, 1995, the Prosecution and Enforcement Department thru then Hearing Officer Evillo C. Pormento,...