In re Four R Properties, Inc.

February 18, 2008 SEC EN BANC CASE NO. 11-07-0286 IN THE MATTER OF FOUR R PROPERTIES, INC. (SEC REG. NO. AS095-000369) , petitioner . FOR: LIFTING OF ORDER OF REVOCATION OF CERTIFICATE OF REGISTRATION O R D E R Petitioner Four R Properties, Inc. is a stock corporation registered with the Commission on 16 January 1995. Its primary purpose is: "To acquire by purchase, lease, donation or otherwise, and to own, use, improve, develop, subdivide, sell, mortgage, exchange, lease, develop and hold for investment or otherwise, real estate of all kinds, whether improve, manage or otherwise dispose of buildings, houses, apartments, and other structures of whatever kind, together with their appurtenances." Its office address is located at 103 Mango Drive, Ayala Alabang Village, Muntinlupa, Metro Manila. On 03 November 2003, petitioner's Certificate of Incorporation No. AS095-000369 was revoked for non-compliance with the Commission's reportorial requirements pursuant to the Order dated 30 September 2003, which was published in a newspaper of general circulation on 04 October 2003. Petitioner now prays for the lifting of the said Order of Revocation on the following grounds: CIAcSa 1. petitioner had been continuously in operation since its registration in 1995; and 2. petitioner did not receive any notice of revocation of its certificate of incorporation; In support of its Petition, petitioner submitted the following documents: 1. 2006 Annual Income Tax Return (BIR Form 1702); 2. 2007 Business License and Mayor's Permit issued by Muntinlupa City; 3. Contract of Lease entered into between petitioner and Mr. Joseph Jericho D. Sebastian dated 20 October 2007; and 4. Minutes of Special Meeting of the Board of Directors on 15 November 2007. Petitioner further alleges that it has no intention to violate the law and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. In fact, petitioner paid the penalty on 20 November 2007 amounting to Four Thousand Five Hundred Pesos (P4,500.00) as evidenced by Official Receipt No. 0115563. WHEREFORE, petitioner's allegation that it did not receive any notice of revocation is without merit considering that the Order of the Commission dated 30 September 2003 revoking the Certificate of Registration of Four R Properties, Inc. was published in a newspaper of general circulation on 04 October 2003. However, finding the documents submitted to support the instant Petition to be sufficient, the aforesaid Order is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) and the Economic Research and Information Department (ERID) of this Commission for their appropriate action. SO ORDERED. ISHaCD Mandaluyong City, Philippines. February 18, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner on official leave THADDEUS E. VENTURANZA Commissioner