In the Matter of Ministry of Christ the True Vine-Cabanatuan City, Inc.

July 30, 2008 SEC CRMD CASE NO. 08-05-0005 IN THE MATTER OF STI COLLEGE BALAYAN, INC. SEC REGISTRATION NO. A199723282 FOR: SETTING ASIDE THE ORDER OF REVOCATION OF THE CERTIFICATE OF REGISTRATION O R D E R Petitioner, STI COLLEGE BALAYAN, INC., is a stock corporation, registered with the Commission on 05 January 1998, under SEC Registration No. A199723282, with principal office address in PED Plaza, Business Centre, Ermita, Balayan, Batangas. Its primary purpose, as stated in its Articles of Incorporation is to establish, maintain and operate an institution for computer education offering formal elementary, secondary, and tertiary higher education degree and post-secondary non-degree courses in computer, short term courses in the application of any and all computer programs, and other computer education, training and seminars; to engage in providing management services, workshops, training on computers and information processing in general, such as, but not limited to programming, system designs and analysis, feasibility studies, installation support, job processing, consultancy and other activities related to information technology and such other activities which are in the future related to computers with the end in view of producing globally competitive professionals. IcAaSD On 01 December 2005, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 25 October 2005, published on 28 October 2005 in the Philippine Daily Inquirer, for non/late filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated 25 October 2005, on the following grounds: 1. That the officers were not aware of the Commission's reportorial requirements; 2. That it did not purposely disregard the same. In support of its Petition, Petitioner submitted the following documents: 1 1. Board Resolution dated 08 July 2008, certifying that at the annual meeting, held on 08 November 2007, in PED Plaza, Business Centre, Balayan, Batangas, at which a quorum was present, the Resolution allowing the filing of Petition to Set Aside Order of Revocation was approved unanimously by the Board of Directors and stockholders representing two-thirds of the outstanding capital stock; 2. Photocopies of the Permits to Operate for the years 1998, 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007 and 2008, issued by the Municipality of Balayan, Batangas; 3. Photocopy of the Certificate of Registration dated 15 January 2003, issued by the Bureau of Internal Revenue. Petitioner submitted its 2007 GIS and 2007 FS to prove its intention to continue its registration with the Commission. Further, the Petition also manifested that the Petitioner has no intention to violate the law and henceforth, commits to immediately pay the fines due. On 11 July 2008, the corporation paid the fines of P9,500.00, under Official Receipt No. 0187227, for non/late filing of the following: NOTED DEFICIENCIES YEARS COVERED REQUIREMENTS NOT FILED FILED LATE General Information Sheet 2001-2005 2006-2007 Financial Statements 2001-2005 Membership Book Registered late WHEREFORE, premises considered, the Order of the Commission dated 25 October 2005 revoking the Certificate of Registration of the STI COLLEGE BALAYAN, INC., is hereby SET ASIDE. Let a copy of this Order be furnished the Corporate Filing and Records Division of the CRMD for attachment to the corporate records of the Petitioner on file with the Commission. The Economic Research and Information Department is hereby directed to delete the name of the Petitioner from the list of revoked corporations immediately upon receipt of this Order. EDSHcT SO ORDERED. Mandaluyong City. July 30, 2008. (SGD.) BENITO A. CATARAN Director Footnotes 1. Photocopies verified against original copies.