In the Matter of Cherdan Lending Investors Corp.

February 27, 2009 SEC EN BANC CASE NO. 01-09-0591 IN THE MATTER OF CHERDAN LENDING INVESTORS CORPORATION SEC REGISTRATION NO. AS94001194 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, CHERDAN LENDING INVESTORS CORPORATION, is a stock corporation registered with the Commission on 9 February 1994 under SEC Registration No. AS94001194, with principal office address at Paseo del Congreso, Catmon, Malolos, Bulacan, engaged in the lending investor and pawnbroking business, as stated in its Articles of Incorporation. EICSDT On 3 November 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 4 October 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated 30 September 2003, on the following grounds: 1. that Petitioner's is fully operational and employs five (5) personnel with regular status and that it has current transactions with borrowers and suppliers which will all be affected if the Order of Revocation is not set aside; and 2. that Petitioner intends to continue its operations and that it has no intention to violate the law and any SEC rules and regulations. In support of its Petition, Petitioner submitted the following documents: 1 1. Directors' Certificate dated 4 August 2008, certifying that at a special joint meeting, held on 30 July 2008, in Paseo del Congreso, Catmon, Malolos, Bulacan, 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 dated 8 September 2008, City of Malolos, Bulacan, with a photocopy of Petitioner's business plate; 3. Photocopy of 2007 Annual Income Tax Return, Received by BIR Revenue District Office No. 25, Malolos Bulacan; 4. Photocopy of Official Receipt dated 7 July 2007 of the Petitioner; and 5. Photocopy of Deed of Assignment, between Sps. Cenon J. Bernardo and Angelita Vinluan-Bernardo, Assignors and the Petitioner, Assignee, dated 9 January 2007, on TCT No. 284680, containing an area of TWO HUNDRED (200) SQ Meters, more or less, located at Barrio Bagbaguin, Caloocan City; cEaDTA Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. On 7 January 2009, Petitioner paid the fine of P13,000.00, under Official Receipt No. 0246360, for non/late filing/registration of the following, on the years indicated hereunder: REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2007 Financial Statements 1996-2006 2007 Stock and Transfer Book Registered Late WHEREFORE, finding the submitted documents sufficient to establish Petitioner's current operation, and its intent to continue as a juridical entity, the Order of the Commission dated 30 September 2003, revoking the Certificate of Registration of the CHERDAN LENDING INVESTORS CORPORATION is hereby SET ASIDE. However, the Petitioner is hereby directed to submit its 2009 Mayor's Permit within thirty (30) days from date of receipt of this Order. Failure on the part of the Petitioner to comply with the directive shall cause the recall of this Order. SO ORDERED. Mandaluyong City, February 27, 2009. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) 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.