In re Megatronix Trading, Inc.

December 24, 2008 SEC EN BANC CASE NO. 10-08-0541 IN THE MATTER OF MEGATRONIX TRADING INC. SEC REGISTRATION NO. A199607470 FOR : Setting Aside Order of Revocation of Certificate of Registration O R D E R Petitioner, MEGATRONIX TRADING INC., is a stock corporation registered with the Commission on October 04, 1996 under SEC Registration No. A199607470, with principal office at Scout Santiago cor. Marathon St., Quezon City, engaged in the trading of all kinds of goods, wares and merchandise, as stated in its Articles of Incorporation. ATCEIc On March 15, 2004, its Certificate of Registration was revoked by virtue of SEC Order dated February 10, 2004 which was published on February 14, 2004 in the Philippine Daily Inquirer for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated February 10, 2004, on the following grounds: 1. that Petitioner intends to pursue and continue its business; 2. that it has no intention to violate the law and the Commission's rules and regulations; and 3. that it shall commit to submit reportorial requirements with the Commission religiously. In support of its Petition, Petitioner submitted the following documents: 1 1. Copy of Directors' Certificate dated July 01, 2008, certifying that at the special joint meeting of stockholders and directors held on April 15, 2008, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside the Order of Revocation was approved; 2. Photocopies of 2006 to 2008 Mayor's Permit, Quezon City; and 3. Photocopies of 2005 and 2006 Income Tax Returns with the attached Financial Statements received by the Bureau of Internal Revenue. Petitioner submitted its 2008 General Information Sheet (GIS) and 2007 Financial Statements (FS) to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. On October 20, 2008, the Petitioner paid the fine of PhP19,000.00 under O.R. No. 0220927, for non-filing of the following, on the years indicated hereunder: CSIDTc REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2006 Financial Statements 1996-2005 WHEREFORE, finding the documents submitted sufficient to establish that Petitioner is operating since 2005 and its intent to continue as a juridical entity, the Order of the Commission dated February 10, 2004, revoking the Certificate of Registration of MEGATRONIX TRADING, INC., is hereby SET ASIDE. SO ORDERED. Mandaluyong City, December 24, 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 are faithful reproductions of the originals of the documents. DaTHAc