In re Sta. Mesa Garden Ville Condominium Corp.

October 31, 2008 SEC EN BANC CASE NO. 10-08-0538 IN THE MATTER OF STA. MESA GARDEN VILLE CONDOMINIUM CORPORATION, SEC REGISTRATION NO. 0000090465 , petitioner. FOR: SETTING ASIDE THE ORDER OF REVOCATION OF THE CERTIFICATE OF REGISTRATION O R D E R Petitioner, STA. MESA GARDEN VILLE CONDOMINIUM CORPORATION is a non-stock corporation registered with the Commission on January 3, 1980, under SEC Registration No. 0000090465, with principal office at Sta. Mesa, Manila. On August 11, 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated July 8, 2003, published on July 11, 2003 in the Philippine Daily Inquirer, for non-filing of reports. DCISAE Petitioner now prays for the setting aside of the Order of Revocation dated July 8, 2003 on the following grounds: 1. that the officers were not aware of the Commission's reportorial requirements; 2. that it has been in continuous existence as its Board of Trustees has been conducting regular and special meetings; 3. that it has no intention to violate the law and any of the Commission's rules and regulations; 4. that it shall henceforth submit reportorial requirements religiously; and 5. that it intends to continue its registration with the Commission. In support of its Petition, Petitioner submitted the following documents: 1 1. Trustees' Certificate dated December 1, 2007, certifying that at the regular meeting of the members and the Board of Directors, held on even date, at its principal office address, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was approved; 2. Photocopy of 2008 Mayor's Permit, City of Manila; 3. Photocopy of the Certification dated September 11, 2008 on the non-derogatory record of the Petitioner with the Office of the Sangguniang Barangay, Brgy. 595, Zone 59, District VI, City of Manila; ICHDca 4. Photocopy of the Annual Income Tax Return for the year 2006; 5. Photocopies of Minutes of the Meeting of the Board of Trustees held on various dates in 2005 to 2007; and 6. Photocopy of the Certificate of Registration with the Bureau of Internal Revenue dated January 1, 1996. Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. On October 15, 2008, Petitioner paid the fine of P10,750.00 under Official Receipt No. 0219929, for non/late filing/registration of the following, on the years indicated hereunder: NOT FILED FILED LATE General Information Sheet 1997-2006 2007 Financial Statements 1997-2006 Membership Book Registered Late WHEREFORE, Petitioner's allegation that it was not aware of the reportorial requirements to be submitted to the Commission which caused the revocation of its Certificate of Registration is without merit. Section 141 of the Corporation Code of the Philippines (the Code) requires corporation to submit an annual report of its operations and such other requirements as the Commission may require. Petitioner is bound by the said provision of the law and it cannot claim ignorance to excuse it from compliance therewith. TSIDaH However, finding the submitted documents sufficient to establish Petitioner's operation, and its intent to continue as a going concern entity, the Order of the Commission dated July 8, 2003 revoking the Certificate of Registration of STA. MESA GARDEN VILLE CONDOMINIUM CORPORATION is hereby SET ASIDE. SO ORDERED. Mandaluyong City. October 31, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (on leave) THADDEUS E. VENTURANZA Commissioner Footnotes 1. Photocopies are compared with the original documents.