In re Oda Wara Manufacturing Corp.

April 7, 2010 SEC ADMINISTRATIVE CASE NO. 01-08-92 CED Case No. 07-2863 IN THE MATTER OF ODA WARA MANUFACTURING CORPORATION FOR : Revocation of Corporate Registration ORDER On 08 July 2008, the Compliance and Enforcement Department 1 ("CED") filed a Petition for Revocation of ODA WARA MANUFACTURING CORPORATION's ("Oda Wara") Corporate Registration on the ground of filing a falsified and spurious treasurer's affidavit and certificate of bank deposit for purposes of registration, in violation of Section 6 (i) of Presidential Decree No. 902-A. On 05 February 2008, the Commission issued an Order directing Oda Wara to file its answer on the Petition. The Order was not served upon respondent Oda Wara and its concerned officers since the addresses reflected in its articles of incorporation submitted to the Commission were found to be fictitious. WHEREFORE, premises considered, the CED is hereby ORDERED to cause this Order together with the Order dated 05 February 2008 to be published in the Commission's website (www.sec.gov.ph), and posted in a conspicuous place at Commission's offices located at the ground floor, SEC Building, EDSA, Greenhills, Mandaluyong City for a period of at least fifteen (15) consecutive days. Further let a copy of this Order and the Order dated 05 February 2008 be published once in a newspaper of general circulation at the petitioner's expense. Oda Wara is hereby ORDERED to file its answer to the petition within thirty (30) days after the said newspaper publication or web publication, whichever comes later. Failure to file the answer within the prescribed period shall result in a judgment by default considering that the publication of this order is sufficient notice to Oda Wara of the administrative proceeding to revoke its charter. ASHEca Lastly, the Oda Wara is hereby advised that it may obtain a certified true copy of the petition from the Office of the General Counsel, 9th floor, SEC Building, EDSA, Greenhills, Mandaluyong City during office hours. SO ORDERED. Mandaluyong City, April 7, 2010. By Authority of the Commission: (SGD.) VERNETTE G. UMALI-PACO General Counsel Footnotes 1. Now known as the Enforcement and Prosecution Department.