In the Matter of Mondragon Int'l. Phil., Inc.

May 6, 2014 SEC CRMD IN THE MATTER OF MONDRAGON INT'L. PHIL., INC. SEC Registration No. 0000037363 FOR : Revocation of Certificate of Registration for Violation of the CorporationCode and SECRules and Regulations on Reportorial Requirements ORDER WHEREAS, the records of this Commission show that MONDRAGON INT'L. PHIL., INC. ("subject corporation") , registered with the Commission on January 28, 1969 under SEC Registration No. 0000037363, failed to submit the following within the prescribed period as required by the Corporation Code and the rules and regulations on reportorial requirements of the Commission: Requirements Filed Late Not Filed General Information Sheet - 1999-2013 Financial Statements 1997-1998 1999-2012 Stock and Transfer Book Not Registered WHEREAS, Section 141 of the Corporation Code requires every corporation to submit annual reports to the Commission, such as General Information Sheet and Financial Statements, thus: "Every corporation, domestic or foreign, lawfully doing business in the Philippines shall submit to the Securities and Exchange Commission an annual report of its operations, together with a financial statement of its assets and liabilities, certified by any independent certified public accountant in appropriate cases, covering the preceding fiscal year and such other requirements as the Securities and Exchange Commission may require. Such report shall be submitted within such period as may be prescribed by the Securities and Exchange Commission." CSIcTa WHEREAS, records show that, on August 17, 2005, the Commission revoked the Registration of Securities and Permit to Sell Securities to the Public of subject corporation and also for non-compliance with reportorial requirements for corporations issued with secondary license; WHEREAS, on March 17, 2014, the Commission served a show cause letter to subject corporation, directing the same to show cause why it should not be penalized for non-compliance with reportorial requirements with a conference scheduled on April 14, 2014. Records show that the same was received by subject corporation; WHEREAS, despite due notice, subject corporation failed to comply with said show cause order. Such failure by the corporation to comply with the directive constitutes defiance to a lawful order subject to appropriate penalties pursuant to the rules and regulations of the Commission; WHEREAS, non-filing of reports by subject corporation for at least five (5) consecutive years may be construed as inoperation by subject corporation; WHEREAS, Section 5 (m) of Republic Act No. 8799, also known as the Securities Regulation Code, in relation to Section 6 (i) of Presidential Decree No. 902-A, as amended, vest the Commission with the authority to revoke, after proper notice and hearing, the Certificate of Registration of a corporation upon any of the grounds provided by law including the following: (6) Failure to file required reports in appropriate forms as determined by the Commission within the prescribed period; WHEREAS, considering the failure of subject corporation to file the required reports within the prescribed period as well as its apparent defiance to a lawful directive, the Commission finds sufficient grounds to revoke its Certificate of Registration; WHEREFORE, the Certificate of Registration of MONDRAGON INT'L. PHIL., INC. is hereby REVOKED for violation of Section 141 of the Corporation Code and rules and guidelines on reportorial requirements of the Commission. SACHcD Accordingly, let a copy of this Order be attached to the records of the corporation on file with the Commission and the "Revoked" status be entered in the Commission's online database. SO ORDERED. Mandaluyong City, Philippines, May 6, 2014. (SGD.) FERDINAND B. SALES Director