In re Multi-Management Consultants, Inc.

April 16, 2008 SEC EN BANC CASE NO. 06-07-0096 IN THE MATTER OF MULTI-MANAGEMENT CONSULTANTS, INC. SEC REG. NO. 87762, petitioner. FOR : Setting Aside of the Order of Revocation of the Certificate of Registration O R D E R Petitioner MULTI-MANAGEMENT CONSULTANTS, INC. is a stock corporation registered with the Commission on August 7, 1979 to "provide, promote, initiate the management and render technical advice to financing, commercial, manufacturing and other kinds of enterprises or otherwise to act as managers or managing agents, public relations, marketing and advertising counselor of corporations, partnerships and other forms of organization and to assist in the setting up and developing new corporations and companies." It has its principal office in the Makati, Metro Manila. ISTCHE On August 11, 2003, Petitioner's Certificate of Registration was revoked by virtue of an Order dated July 8, 2003, which was published July 11, 2003, for non-compliance with the Commission's reportorial requirements. Petitioner now prays for the setting aside of the said Order of Revocation on the ground that it is the registered owner of several real estate properties and that it has an existing lease contract that will expire on October 2008. Its current status as a revoked corporation puts petitioner corporation in an awkward position where it has no legal capacity to fulfill said contract. Moreover, petitioner has been religiously filing its Income Tax Returns. In support of its Petition, Petitioner submitted the following: 1) Contract of Lease executed on February 6, 2007 between Petitioner Multi-Management Consultants, Inc. as lessor and Discover The World Marketing as lessee for the lease of Condominium Unit 402 at Alexander House Building, 132 Amorsolo St., Legaspi Village, Makati City; 2) Condominium Certificates of Title No. S-1740 and 1503 over an area known as Suite 401 & 402 located at the fourth floor of Alexander House Building; 3) Annual Income Tax Return for the Years 2004, 2005, 2006 stamped received by the Bureau of Internal Revenue; 4) General Information Sheet (GIS) for the calendar year 2007; 5) Audited Financial Statement for the Year 2006 stamped received by the Bureau of Internal Revenue. Petitioner further alleges that it has no intention to violate the law and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. It also paid in full the penalty of Ten Thousand Five Hundred Pesos (P10,500.00), as evidenced by Official Receipt No. 0070790, which amount was assessed by the Law and Regulation Division of the Company Registration and Monitoring Department (CRMD). CTSDAI WHEREFORE, premises considered, the Order of the Commission dated July 8, 2003, revoking the Certificate of Registration of MULTI-MANAGEMENT CONSULTANTS, INC. is hereby SET ASIDE. Petitioner is hereby ordered to submit Mayor's/Business Permit for the calendar year 2008 and the reconstructed pages of the Stock and Transfer Book (STB) duly certified as correct by the Corporate Secretary within thirty (30) days from receipt of this Order. Failure to comply with this directive shall cause the recall of the instant Order. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) for implementation and attachment to the corporate records of petitioner on file with the Commission. The Economic Research and Information Department (ERID) is hereby directed to delete the name of Petitioner from the List of Revoked Corporations immediately upon receipt of this Order. SO ORDERED. April 16, 2008, Mandaluyong City. (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