In the Matter of Sasa Aplayans Vendors Associations, Inc.

January 30, 2009 SEC EN BANC CASE NO. 03-08-0394 IN THE MATTER OF SASA APLAYANS VENDORS ASSOCIATIONS, INC. (SAVA, INC.) SEC REGISTRATION NO. 0000109639 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, SASA APLAYANS VENDORS ASSOCIATIONS, INC. (SAVA, INC.), is a non-stock corporation registered with the Commission on 25 January 1983 under SEC Registration No. 0000109639, with principal office address at Km. 11 Sasa, Davao City, as stated in its Articles of Incorporation. DTcACa On 11 August 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 8 July 2003, published on 11 July 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated 8 July 2003, on the following grounds: 1. that Petitioner's officers were not aware of the Commission's reportorial requirements; 2. that Petitioner's officers learned of the Order of Revocation only on 12 December 2007; and 3. that Petitioner intends to continue its operations and manifested 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. Trustees' Certificate dated 8 February 2008, certifying that at the special joint meeting, held on 15 December 2007, at its principal office at Km. 11, Sasa, Davao City, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was approved; 2. Photocopies of Petitioner's Annual Income Tax Returns for the year 2007, received by BIR-Davao City; and 3. Copy of the Minutes of the Petitioner's Annual Meeting held on 15 December 2007. Petitioner submitted its 2007 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 8 February 2008, Petitioner paid the fine of P11,250.00, the amount assessed by Davao Extension Office of the Commission, under Official Receipt No. 5491881, for non/late filing of the following, on the years indicated hereunder: REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2006 2007 Financial Statements 1996-2006 WHEREFORE, Petitioner's allegation that its officers were not aware of the Commission's reportorial requirements is without merit considering that Section 141 of the Corporation Code of the Philippines requires corporations to submit an annual report of its operations and such other requirements as the Commission may require. Petitioner is bound by the said provision of the law and it cannot claim negligence as excuse from compliance therewith. DaAETS Further, Petitioner's allegation that it learned of the Order of Revocation only on 12 December 2007, is also without merit, considering the Order dated 8 July 2003 was published in the Philippine Daily Inquirer on 11 July 2003. Pursuant to SEC Memorandum Circular No. 4 Series of 2003, which states that in cases where the Commission may deem practicable considering the great number or unknown addresses of corporations involved, the show cause order shall be published once in a newspaper of general circulation. Publication in a newspaper of general circulation is sufficient notice for the corporations concerned. However, finding the submitted documents sufficient to establish Petitioner's intent to continue as a juridical entity, the Order of the Commission dated 8 July 2003, revoking the Certificate of Registration of the SASA APLAYANS VENDORS ASSOCIATIONS, INC. (SAVA, INC.), 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, 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. HaECDI