In re Alla Management Services, Inc.

April 25, 2008 SEC EN BANC CASE NO. 03-08-0380 IN THE MATTER OF ALLA MANAGEMENT SERVICES, INC. (SEC REG. NO. 85441) , petitioner . SETTING ASIDE OF THE ORDER OF REVOCATION O R D E R Petitioner ALLA MANAGEMENT SERVICES, INC. is a stock corporation registered with the Commission on April 22, 1979. Its primary purpose is to "engage in the business as managers, and/or consultants of such firms, association or organization presently organized or existing or as may hereinafter be formed or organized in the pursuit of any legal and valid business here or abroad." 1 It has its business office address at 3026 VAG Building (formerly Greenhills Condominium), EDSA San Juan. On August 11, 2003, petitioner's Certificate of Registration No. 85441 was revoked by virtue of SEC Order dated July 8, 2003 for non-compliance with the Commission's reportorial requirements. Said Order was published in a newspaper of general circulation on July 11, 2003. Petitioner now prays for the setting aside of the said order of revocation based on the following grounds: a) There are new business opportunities and potential investors to the company which will ensure a stable future for the corporation and its employees; b) The corporation has many employees who depend on its existence for their welfare and survival; c) The corporation is in operation through the conduct of board meetings; and cDCIHT d) Having been made aware of the reportorial requirements of the Commission, it is unlikely that the corporation will incur similar violations in the future. In support of its petition, petitioner submitted the following documents: a) 2006 Annual Income Tax Return; b) 2008 Mayor's Permit No. JVE-2008-0002384 issued by the City Mayor of San Juan; c) Contract of Lease entered by the Petitioner; d) Transfer Certificates of Title Nos. T-18658, T-18659, T-18661, N-91893, N-91894, and N-91895; e) 2008 General Information Sheet; and f) 2006 Balance Sheet, Income Statement, and Cash Flow Statement. Petitioner further alleges that it has no intention to violate the law and any SEC rules and regulations and commits to comply with the rules and regulations of the Commission regarding the submission of reports. It has also committed to pay immediately any penalties due by reason of its failure to comply with the Commission's reportorial requirements. In fact, it paid the penalty in full as evidenced by Official Receipt No. 0145827 dated March 5, 2008 amounting to SEVENTY-EIGHT THOUSAND FIVE HUNDRED PESOS (Php78,500.00). WHEREFORE, finding the petition meritorious, the Order of the Commission dated July 8, 2003 revoking the Certificate of Registration of ALLA MANAGEMENT SERVICES, INC. is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department and Economic Research and Information Department of this Commission for their appropriate action. SO ORDERED. Mandaluyong City. April 25, 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. Second Article of Petitioner's Articles of Incorporation.