In the Matter of Aristide Holding Company, Inc.

January 20, 2009 SEC EN BANC CASE NO. 12-07-0304 IN THE MATTER OF ARISTIDE HOLDING COMPANY, INC. SEC REGISTRATION NO. AS092-07725 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, ARISTIDE HOLDING COMPANY, INC., is a stock corporation registered with the Commission on 13 November 1992, under SEC Registration No. AS092-07725, with office address at B2 L50 Garden City Subd., Brgy., San Antonio, Paraaque City. 1 DaTEIc On 3 November 2003 its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 4 October 2003 in the Philippine Daily Inquirer, for non-filing of reports.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 20 August 2003, on the following grounds: 1. that its corporate records were endorsed to an accountant for the preparation of its reportorial requirements, but the accountant failed to prepare such reports without even informing the Petitioner. 2. that it has no intention to violate the law and any SEC rules and regulations; 3. that it shall henceforth submit reportorial requirements religiously; and 4. that it intends to continue its registration with the Commission. In support of its Petition, Petitioner submitted the following documents: * 1. Directors' Certificate dated 8 November 2007 certifying that at the special joint meeting of the stockholders and the Board of Directors, held on 8 November 2007, in B2 L50 Garden City Subd., Brgy. San Antonio, Paraaque City, at which a quorum was present, the resolution allowing the filing of the Petition to Set Aside Order of Revocation was approved; 2. Photocopy of its 2006 Annual Income Tax Return, received by the Bureau of Internal Revenue on December 5, 2007; and 3. Minutes of the Stockholders' Meeting dated 15 March 2007 and November 8, 2007 signed by Sandra Villastique-Rauzi, Secretary of Petitioner. IcDCaT Petitioner submitted its 2007 General Information Sheet and 2006 Financial Statements to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. On 7 December 2007, Petitioner paid the fine of Php11,000.00, under Official Receipt No. 0120862, for non/late filing of the following, on the years indicated hereunder: Requirements Not Filed Filed Late General Information Sheet 1997-2006 2007 Financial Statements 1996-2005 2006 WHEREFORE, Petitioner's excuse of inadvertence on the part of its accountant 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 corporation is bound by the said provision of the law and it cannot claim ignorance nor inadvertence as excuse from compliance therewith. Nevertheless, finding Petitioner's intent to continue as a juridical entity, the Order of the Commission dated 20 August 2003, revoking the Certificate of Registration of the ARISTIDE HOLDING COMPANY, INC., is hereby SET ASIDE. Further, Petitioner is directed to submit its 2008 Mayor's Permit within thirty days (30) from date of receipt hereof. Failure on the part of the Petitioner to submit the said permit within the aforementioned period shall cause the recall of this Order. SO ORDERED. Mandaluyong City, January 20, 2009. EHaCID (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. Petitioner's 2007 GIS. * Photocopies are faithful reproductions of the originals of the documents.