In re Victoria Filling Plant, Inc.

October 31, 2008 SEC EN BANC CASE NO. 09-08-0506 IN THE MATTER OF VICTORIA FILLING PLANT, INC. SEC REGISTRATION NO. AS94007109 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, VICTORIA FILLING PLANT, INC., is a stock corporation registered with the Commission on 8 August 1994 under SEC Registration No. AS94007109, with principal office at #165 Maharlika Highway, Barangay Luna, Sta. Rosa, Nueva Ecija, engaged in the business of distributing liquified petroleum gas, as stated in its Articles of Incorporation. IcSADC On 03 November 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 04 October 2003 in the Philippine Daily Inquirer, for non-filing of reports.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 Petitioner had no knowledge of the reportorial requirements of the Commission; and 2. that Petitioner has been in continuous operation since 1994, but important documents were lost during the typhoons and floods that hit the locality. In support of its Petition, Petitioner submitted the following documents: 1 1. Directors' Certificate dated 10 January 2008, certifying that at the special meeting, held on 5 January 2008, at its principal office in Sta. Rosa, Nueva Ecija, the resolution allowing the filing of Petition to Set Aside Order of Revocation was approved by majority of the Board of Directors and by majority of outstanding capital stock; 2. Photocopies of 2008 and 2006 Mayor's Permit; 3. Photocopy of Certification dated 22 August 2008 from the Municipal Treasurer, certifying that the Petitioner has been in operation since 1996 up to present; 4. Photocopy of BIR-Payment Form for its 2008 annual registration fee paid on 28 December 2007; 5. Photocopies of Annual Income Tax Returns for the years 1994 to 2000 and 2006, and Quarterly Income Tax Returns for the first quarter of the years 2003 to 2007, received by the BIR-Revenue District Office of Nueva Ecija; 6. Photocopy of Social Security System plate number 02-0913973-0-000, registered August 1994; 7. Photocopy of BIR Certificate of Registration issued on 5 July 2001 by the Revenue District No. 023 of Nueva Ecija. IaAHCE 8. Photocopy of Certificate of Registration of business name with the Department of Trade and Industry-Region III, issued on 27 February 2001; 9. Pictures of the Petitioner's plant in Nueva Ecija. Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It also manifested that it has no intention to violate the law and any SEC rules and regulations and commits to immediately pay the fines due. On 04 September 2008, Petitioner paid the fine of P67,000.00, under Official Receipt No. 0205393, for non/late filing/registration of the following, on the years indicated hereunder: NOTED DEFICIENCIES YEARS COVERED REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2004; 2006-2007 2005 Financial Statements 1996-2003; 2006 2004-2005 Stock and Transfer Book Registered Late WHEREFORE, Petitioner's allegation that it has no knowledge 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. The Petitioner is bound by the said provision of the law and it cannot claim ignorance to excuse it from compliance therewith. However, finding the submitted documents sufficient to establish the Petitioner's continuous operations since 1994 to present, the Order of the Commission dated 30 September 2003, revoking the Certificate of Registration of the VICTORIA FILLING PLANT, INC., is hereby SET ASIDE. SO ORDERED. Mandaluyong City, October 31, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner on leave THADDEUS E. VENTURANZA Commissioner Footnotes 1. Photocopies are compared with original documents. IAEcaH