In the Matter of Taj Electronics Corp.

January 30, 2009 SEC EN BANC CASE NO. 10-07-0245 IN THE MATTER OF TAJ ELECTRONICS CORPORATION SEC REGISTRATION NO. A199601588 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, TAJ ELECTRONICS CORPORATION is a stock corporation registered with the Commission on 27 June 1996, under SEC Registration No. A199601588, with principal office at Bldg. 4, DBP Avenue, corner Celery Road, FTI Complex, Taguig, Metro Manila, engaged in the manufacturing and trading of electronic equipments and materials, as stated in its Articles of Incorporation. aTEHIC On 15 March 2004, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 10 February 2004, published on 14 February 2004 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the said Order of Revocation dated 10 February 2004, on the following grounds: 1. that Petitioner intends to continue its operation without any legal impediments; 2. that Petitioner has no intention to violate the law and any SEC rules and regulations; and 3. that Petitioner shall henceforth submit its reportorial requirements religiously. In support of its Petition, Petitioner submitted the following documents: * 1. Directors' Certificate dated 20 October 2008, certifying that at the regular meeting of the members and the Board of Directors on 04 October 2008, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was unanimously approved; 2. Photocopies of 2007 and 2008 Business Permit and Certification dated 13 February 2008, by the City Permits and License Division, Calamba, Laguna, stating that the Petitioner's Mayor's permit is already in process; and 3. Photocopy of 2008 Business Tax Payment Certificate, Calamba, Laguna. Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It commits to immediately pay the fines as due. On 16 December 2008, Petitioner paid the fine of Php12,500.00 under O.R. No. 0244105, for non-filing/registration of the following, on the years indicated hereunder: NOT FILED FILED LATE General Information Sheet 1997-2005; 2007 2006 Financial Statements 1996-2006 2007 Stock and Transfer Book Registered Late WHEREFORE, finding the submitted documents sufficient to establish Petitioner's intent to continue as a juridical entity, the Order of the Commission dated 10 February 2004, revoking the Certificate of Registration of TAJ ELECTRONICS CORPORATION is hereby SET ASIDE. SDIACc SO ORDERED. Mandaluyong City, January 30, 2009. (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 * Photocopies are faithful reproductions of the originals of the documents.