In the Matter of Handumanan Home Industries, Inc.

January 30, 2009 SEC EN BANC CASE NO. 10-08-0532 IN THE MATTER OF HANDUMANAN HOME INDUSTRIES, INCORPORATED SEC REGISTRATION NO. 0000121913 FOR : Setting Aside Order of Revocation of Certificate of Registration O R D E R Petitioner, HANDUMANAN HOME INDUSTRIES, INCORPORATED, is a stock corporation registered with the Commission on August 06, 1984 under SEC Registration No. 0000121913, with principal office address at No. 99 San Juan Street, Bacolod City 6100, Negros Occidental, engaged in the manufacture of cottage industry products, as stated in its Articles of Incorporation. EACIaT On August 11, 2003, its Certificate of Registration was revoked by virtue of SEC Order dated July 08, 2003 which was published on July 11, 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated July 08, 2003, on the following grounds: 1. that Petitioner is the registered owner of a parcel of land in Negros Occidental, which it intends to develop into a low-cost housing project and continuously pay real property taxes thereon; and 2. that Petitioner is in actual commercial operation and the business operation will benefit the people in the community. In support of its Petition, Petitioner submitted the following documents: 1 1. Photocopy of Income Tax Return for 2007 received by the Bureau of Internal Revenue on September 20, 2008; 2. Directors' Certificate dated September 26, 2008, certifying that at the special joint meeting of stockholders and directors held on September 22, 2008, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside the Order of Revocation was approved; 3. Photocopies of the Application for Comprehensive Agrarian Reform Program (CARP) exemption filed with the Department of Agrarian Reform (DAR) and of the Order by the DAR dated June 30, 2008 approving the Petitioner's Application for Exemption from coverage of CARP; 4. Photocopies of Minutes of the Meeting held on various dates in 2008; 5. Photocopies of O.R.s issued in various dates in 2007 and 2008 for payment of real property tax, Office of the Treasurer, Negros Occidental; TECIaH 6. Photocopy of Certification by the DAR dated October 02, 2007 that, to that date no Notice of Coverage have n been issued to Petitioner for compulsory acquisition scheme; 7. Photocopy of Certification by the National Irrigation Administration, Negros Occidental dated September 21, 2008, that the parcel of land owned by Petitioner is not irrigable; 8. Photocopy of Certification by the Office of Municipal Planning and Development Coordinator, Municipality of La Castellana, Negros Occidental dated August 17, 2007, certifying that the proposed housing project of Petitioner is duly approved by the Housing and Land Use Regulatory Board; and 9. Photocopies of Transfer Certificates of Title Nos. T-1626969 and T-140874, Registry of Deeds Negros Occidental of certain parcels of land, all in the name of Petitioner. Petitioner submitted its 2008 General Information Sheet (GIS) and 2007 Financial Statements (FS) to prove its intention to continue its registration with the Commission. Petitioner also manifested that it has no intention to violate the law and it commits to immediately pay the fines as due. On October 02, 2008, the Petitioner paid the fine of PhP18,800.00, the amount assessed by the SEC-Iloilo Extension Office, under O.R. No. 5531304, for non/late filing of the following, on the years indicated hereunder: REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2007 Financial Statements 1995-1997 (ANO); 1998-2006 2007 WHEREFORE, finding the Petition meritorious, the Order of the Commission dated July 08, 2003, revoking the Certificate of Registration of HANDUMANAN HOME INDUSTRIES, INCORPORATED, is hereby SET ASIDE. However, Petitioner is hereby directed to submit its 2009 Mayor's Permit within thirty (30) days from date of receipt hereof. Failure on the part of the Petitioner to comply with the directive shall cause the recall of this Order. TAaCED 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 1. Photocopies are faithful reproductions of the originals of the documents. n Note from the Publisher: Copied verbatim from the official document.