In re Classica Manor Condominium Association, Inc.

August 19, 2008 SEC EN BANC CASE NO. 07-08-0493 IN THE MATTER OF CLASSICA MANOR CONDOMINIUM ASSOCIATION, INCORPORATED, SEC REGISTRATION NO. AN93004084 , petitioner. FOR: SETTING ASIDE THE ORDER OF REVOCATION OF THE CERTIFICATE OF REGISTRATION O R D E R Petitioner, CLASSICA MANOR CONDOMINIUM ASSOCIATION, INCORPORATED, is a non-stock corporation, registered with the Commission on 20 September 1993, under SEC Registration No. AN93004084, with principal office address at San Juan, Metro Manila (Araullo corner Montessori Lane, San Juan, Metro Manila). ETDHaC Its purposes, as stated in its Articles of Incorporation, are: to promote the best interest of, to protect and safeguard the unit owners and their properties in accordance with the Master Deed and Declaration of Restrictions, obtain and maintain insurance policies against loss of fire, casualty, liability, workmen's compensation and other insurable risks; to adopt and enforce rules and regulations on the proper use, enjoyment and occupancy of all units and common areas of the entire project; etc. On 03 November 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 04 October 2003 in the Philippine Daily Inquirer, for non-filing of reports.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 it did not know of the required annual submission of reports; 2. that it has no intention to violate the law and the SEC rules and regulations; and 3. that it is actually operational despite non-filing of reports and that it intends to continue its registration with the Commission. In support of its Petition, Petitioner submitted the following documents: 1 1. Trustees' Certificate dated 08 July 2008, certifying that at the joint meeting of the members and the trustees, held on 08 April 2008 in Classica Condominium Clubhouse, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was approved unanimously by the trustees and members; 2. Photocopy of the Annual Income Tax Return for the year 2007, received by the Bureau of Internal Revenue on 03 July 2008; 3. Photocopy of the Permit to Operate for the year 2008, issued by Business Permit and License Office of the City of San Juan, Metro Manila on 16 January 2008; CSTDIE 4. Photocopy of the Contract of Security Services dated 17 January 2007 with Superb Security and Investigation Agency, Inc.; 5. Photocopy of the Statement of Account dated 15 November 2006 issued to Mr. Reynaldo Gatmaitan; 6. Photocopy of the Statement of Account dated 15 January 2005 issued to Ms. Nancy Leoy; 7. Photocopy of the Statement of Account dated 15 January 2005 issued to Mr. Donald Bautista; 8. Photocopy of the Statement of Account dated 15 August 2004 issued to Mr. Rogasiano Oropeza; 9. Photocopy of the Statement of Account dated 15 August 2004 issued to Ms. Charrisa Yao; 10. Photocopy of the Minutes of the Meeting of the General Assembly and Election of Officers held on 03 February 2003 at the Classica Manor Condominium clubhouse; Petitioner submitted its 2007 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. Petitioner also commits to immediately pay the fines due. On 29 July 2008, Petitioner paid the fine of P56,750.00 the amount assessed by the Law and Regulation Division of the Company Registration and Monitoring Department (CRMD), under Official Receipt No. 0193262, for non/late filing/registration of the following: NOTED DEFICIENCIES YEARS COVERED REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2006 2007 Financial Statements 1997-2006 2007 Membership Book Registered late WHEREFORE, Petitioner's allegation that it did not know of the reportorial requirements of the Commission 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 lack of knowledge to excuse it from compliance therewith. However, finding the documents in support of the other grounds sufficient to establish the merit of the Petition, the Order of Revocation of the Certificate of Registration of CLASSICA MANOR CONDOMINIUM ASSOCIATION, INCORPORATED dated 30 September 2003, is hereby SET ASIDE. Let a copy of this Order be furnished the Corporate Filing and Records Division of the CRMD for attachment to the corporate records of the Petitioner on file with the Commission. The Economic Research and Information Department is hereby directed to delete the name of the Petitioner from the list of revoked corporations immediately upon receipt of this Order. AcSHCD SO ORDERED. Mandaluyong City. August 19, 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. Photocopies verified against the original.