In re Donngary Farms, Inc.

May 27, 2008 SEC EN BANC CASE NO. 01-08-0347 IN THE MATTER OF DONNGARY FARMS, INC. (SEC REG. NO. 0109142) , petitioner. RE: SETTING ASIDE ORDER OF REVOCATION OF CERTIFICATE OF REGISTRATION ORDER Petitioner Donngary Farms, Inc. is a stock corporation registered with the Commission on 28 December 1982. 1 The primary purpose of the corporation is "to establish, put-up, operate, and maintain a poultry farm of commercial scale and value of different breeds and varieties for the purpose of breeding and raising and sale in their original form and nature." 2 Its principal office is located at Impig, Sipocot, Camarines Sur. 3 On 11 August 2003, petitioner's Certificate of Registration No. 0109142 was revoked pursuant to the Order dated 8 July 2003 for non-compliance with the Commission's reportorial requirements. Said Order was published in a newspaper of general circulation on 11 July 2003. Petitioner now prays for the setting aside of the said Order of Revocation based on the following grounds that: 1. A typhoon damaged the building and destroyed the records of the corporation; 2. Petitioner incurred losses due to damage caused to its poultry and buildings when it was hit by a typhoon, causing it to slow down its operation; and 3. The original directors are now senior citizens and their children intends to continue the operation of the business. In support of the Petition, the Petitioner submitted the following: a) 2007 Mayor's Permit issued by the Municipality of Sipocot; and b) 2006 Annual Income Tax Return; Petitioner further alleges that it has no intention to violate the law and any SEC rules and regulations and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. It has also paid the penalty amounting to Sixty-Six Thousand Pesos (Php66,000.00) as evidenced by Official Receipt No. 5482227 dated 5 November 2007. WHEREFORE, premises considered, the Order of the Commission dated July 8, 2003 revoking the Certificate of Registration of Donngary Farms Inc. is hereby SET ASIDE. Further, petitioner is directed to submit its 2008 Mayor's Permit and a copy of the entries in the Stock and Transfer Book as certified by the Corporate Secretary within thirty (30) days from date of receipt hereof. Failure on the part of the petitioner to submit the said documents within the aforestated period shall cause the recall of this Order. Let a copy of this Order be furnished the Company Registration and Monitoring Department and the Economic Research and Information Department of this Commission for their appropriate action. SO ORDERED. Mandaluyong City. May 27, 2008. (SGD.) FE B. BARIN Chairperson on sick leave MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner Footnotes 1. Certificate of Registration. 2. Primary Purpose of Petitioner's Articles of Incorporation. 3. Petition to Lift Order of Revocation, Par. I.