In re Vil-Clad Marketing Corporation (SEC Reg. No. 0105187)

April 22, 2008 SEC EN BANC CASE NO. 03-08-0378 IN THE MATTER OF VIL-CLAD MARKETING CORPORATION (SEC REG. NO. 0105187), petitioner. RE: SETTING ASIDE ORDER OF REVOCATION O R D E R Petitioner Vil-Clad Marketing Corporation is a stock corporation registered with the Commission on 07 June 1982. 1 The primary purpose of petitioner corporation is "to engage in marketing of electrical and household appliance, business and office, machineries and equipments, hardware and fittings, supplies, industrial machineries, furniture and fixture, plywood and other substrate board, heavy equipments, motor vehicles and other movable properties." 2 Its principal office address is located at 110 F.P. Zamora Street, Cubao, Quezon City. aIcSED On 11 August 2003, Petitioner's Certificate of Registration No. 0105187 was revoked pursuant to the SEC Order dated 08 July 2003 for non-compliance with the Commission's reportorial requirements.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: 1. The officers of the Corporation were not aware of the former custodian's (Blansilyn V. Laserna's) non-compliance with the Commission's reportorial requirements; 2. The Corporation has also been unable to fully reconstitute its records until the present (for purposes of trying to comply with reportorial requirements) following said former custodian's unlawful and unauthorized act of removing from the Corporations's premises of all the Corporation's records (that were completely entrusted to her as custodian); and, 3. The Corporation is still in the process of subsequently complying with all reportorial requirements. 3 SETAcC In support of the Petition, the Petitioner submitted the following: a) 2008 General Information Sheet (GIS); b) 2006 Audited Financial Statements; c) Business Permits issued by the Mayor of Quezon City (2007-2008); d) 2007 Income Tax Return; e) Official Receipt No. A-22255196 issued by the Office of the Treasurer of Quezon City on 16 January 2008, indicating the payment of Mayor's Permit for 2008, among others; f) Purchase Order No. 000361 dated 24 July 2007 issued by Mandurriao Star, Inc. in favor of Vil-Clad Marketing Corp.; g) Banco de Oro Manager's Check No. 0477620 issued on 15 October 2007 in favor of Vil-Clad Marketing Corp. for the account of Shoemart Incorporated; TAEcSC h) Vil-Clad Marketing Corp. Official Receipt No. 10541 issued on 17 October 2007 in favor of Shoemart Incorporated; i) RCBC Check No. 0000079545 issued by Landev Corporation on 31 August 2007 in favor of Vil-Clad Marketing Corporation; j) Vil-Clad Marketing Corp. Official Receipt No. 10532 issued on 05 September 2007 in favor of Landev Corporation; k) SM Ortigas Purchase Order No. 005377 issued on 30 August 2007 in favor of Vil-Clad Marketing Corporation; l) Banco de Oro Manager's Check No. 0479000 issued 17 October 2007 in favor of Vil-Clad Marketing Corp. for the account of Shoemart Incorporated; and m) Vil-Clad Marketing Corp. Official Receipt No. 10549 issued on 07 November 2007 in favor of Shoemart Incorporated. HaTAEc 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 in full the penalty amounting to One Hundred Four Thousand Eight Hundred Forty-Five Pesos and Seventy-Five Centavos (Php104,845.75) as evidenced by Official Receipt No. 0145777 dated 05 March 2008. WHEREFORE, premises considered the Order of the Commission dated 08 July 2003 revoking the Certificate of Registration of VIL-CLAD MARKETING CORPORATION is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) and the Economic Research and Information Department (ERID) of this Commission for their appropriate action. aTADcH SO ORDERED. Mandaluyong City. April 22, 2008. (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. Certificate of Registration. 2. Primary Purpose of Petitioner's Articles of Incorporation. 3. Petition to Lift Order of Revocation. Par. 3.