In The Matter of Richwell Equipments and Industrial Corporation

[PED * CASE NO. 91-0806. January 15, 1992.] IN THE MATTER OF RICHWELL EQUIPMENTS AND INDUSTRIAL CORPORATION O R D E R RICHWELL EQUIPMENTS AND INDUSTRIAL CORPORATION was registered with the Commission under SEC Registration No. 178451, S-90 with the following directors/incorporators: Name Address MIGUEL D. JOSE 142 Scout Lozano Street Quezon City ABELARDO F. SANCHEZ 86 Mahabagin Street Teachers Village Quezon City NICANOR S. TONGOL 46 P. Burgos Street Guadalupe, Makati Metro Manila RAMIR B. TORRES 16-D Molly Street Green Meadows, Phase II Quezon City FLORENCIO Y. MERCADO 63 Magat Salamat Street Cubao, Quezon City The corporation was primarily formed for the following purpose: "To engage in, conduct, and carry on the business of buying, selling, distributing, marketing at wholesale and retail in so far as may be permitted by law, all kinds of goods, commodities, wares and merchandise of every kind and description; to enter into retail and other disposition for its own account as principal or in representative capacity as manufacturer's representative, merchandise broker, indentor, commission merchant, factors or agents, upon consignment of all kinds of goods, wares or products whether natural or artificial". On September 25, 1990, Commissioner Jose T. Almonte, of the Economic Intelligence and Investigation Bureau (EIIB) informed the Commission that the corporation was involved in a smuggling operation. He stated that a shipment consigned with RICHWELL EQUIPMENTS AND INDUSTRIAL CORPORATION which purported to contain 720 packages of Esprene Epim Synthetic Rubber arrived from Hongkong on board the Vessel Mulpha Kluang V-101S turned out to be a shipment containing various consumer electronic goods. Upon discovery of the anomaly, notices of conferences were sent by the EIIB investigators to the corporation's business address and at the officers' residential addresses, but no one of the Directors submitted for investigation. llcd Subsequent personal follow-ups were made by the investigators, but to no avail. Hence, the indorsement to the Commission for investigation. Immediately upon receipt of the letter of Commissioner Almonte, letters of conferences were sent to the corporation's business address and at the residential addresses. However, said letters returned with postman's remarks that the addressee is unknown or the number indicated is not existing or there is no such number. It is evident that the corporation was established for the sole purpose of smuggling and not for those mentioned in the Articles of Incorporation. This, therefore, constitutes fraud as provided for under Section 6, i (1) of P.D. 902-A, which reads: "to suspend, or revoke, . . ., franchise or certificate of registration of corporations, partnerships or associations, upon any of the grounds provided by law, including the following: 1. Fraud in procuring its certificate of registration; 2. . . . . WHEREFORE, premises considered, for having engaged in the illegal activity of smuggling which is up and beyond the purposes for which it was organized, it is hereby ORDERED that RICHWELL EQUIPMENTS AND INDUSTRIAL CORPORATION be DISSOLVED and its Certificate of Registration No. 178451 be REVOKED and CANCELLED accordingly. Let a copy of this Order be furnished the Records Division, Administrative and Finance Department and the Supervision and Monitoring Department and the Municipal Mayor of Makati, Metro Manila. cdlex SO ORDERED. Prosecution and Enforcement Department (SGD.) SIMEON P. BADILLO, JR. Attorney III (SGD.) ELIGIO B. ALMOJERA Chief Complaints and Investigation Division Approved: (SGD.) ELNORA E. ADVIENTO Director