In the Matter of Rumanza Agro-Industrial Corp.

January 30, 2009 SEC EB CASE NO. 09-08-0523 IN THE MATTER OF RUMANZA AGRO-INDUSTRIAL CORPORATION SEC REGISTRATION NO. 0000123819 FOR : Setting Aside Order of Revocation of Certificate of Registration O R D E R Petitioner, RUMANZA AGRO-INDUSTRIAL CORPORATION, is a stock corporation registered with the Commission on December 05, 1984 under SEC Registration No. 0000123819, with principal office address at 212 Bulusan St., Ayala Alabang Muntinlupa, engaged in the agricultural business, as stated in its Articles of Incorporation. On August 11, 2003, its Certificate of Registration was revoked by virtue of SEC Order dated July 08, 2003 which was published on July 11, 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated July 08, 2003, on the following grounds: 1. that Petitioner has acquired real properties in connection with the conduct of its business and paid real property taxes thereon; 2. that despite temporary cessation of business operation in the previous years, Petitioner intends to continue with its commercial operation; and 3. that it has no intention to violate the laws or SEC rules and regulations. STaAcC In support of its Petition, Petitioner submitted the following documents: 1 1. Directors' Certificate dated September 15, 2008, certifying that at the special joint meeting of stockholders and directors held on September 01, 2008, in Muntinlupa City at which a quorum was present, the resolution allowing the filing of Petition to Set Aside the Order of Revocation was approved; 2. Photocopy of Income Tax Return for the calendar year 2007, received on August 21, 2008, Bureau of Internal Revenue; 3. Photocopy of 2008 Permit to Operate, City of Muntinlupa; 4. Photocopy of 2008 Sanitary Permit, Health Department, Muntinlupa; 5. Photocopies of Transfer Certificates of Title Nos. 198828, Registry of Deeds Makati City; 38016 and 38017, Registry of Deeds Paraaque; all in the name of the Petitioner; 6. Photocopy of Deed of Absolute Sale with Assumption of Mortgage dated December 11, 1994, with vendors Renato Ligon and Maria Luz Surio, for a parcel of land with improvements situated in Makati City; 7. Photocopy of Real Property Tax order of Payment for the year 1990, Paraaque, Metro Manila; 8. Tax Declaration of Real Property for the year 1990, received by the Municipal Assessor, Paraaque; and 9. Photocopy of Deed of Absolute Sale with vendor Honorato P. Espiritu, signed on February 21, 1990, for a parcel of land situated in Paraaque; Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It commits to immediately pay the fine as due. aSITDC On September 22, 2008, Petitioner paid the fine of PhP23,000.00 under O.R. No. 0212455 for non/late filing of the following, on the years indicated hereunder: REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2002, 2004-2007 2003, 2008 Financial Statements 1996-2001, 2003-2006 2002, 2007 WHEREFORE, while continuous in operation for five (5) years is a ground for revocation of Certificate of Registration, finding the documents submitted sufficient to establish the Petitioner's intent to continue as a juridical entity, the Order of the Commission dated July 08, 2003, revoking the Certificate of Registration of RUMANZA AGRO-INDUSTRIAL CORPORATION, is hereby SET ASIDE. However, Petitioner is hereby directed to submit its 2009 Mayor's Permit within thirty (30) days and proofs of actual commercial operations not later than six (6) months after receipt of this Order. Failure on the part of Petitioner to comply with this directive shall cause the recall of this Order. SO ORDERED. Mandaluyong City, January 30, 2009. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner on leave JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner Footnotes 1. Photocopies are faithful reproductions of the originals of the documents. DHITCc