October 19, 2017
SEC ADMIN CASE NO. 04-12-148
IN THE MATTER OF MADAN JIWAN LENDING AND TRADING CORP.
ENFORCEMENT AND PROSECUTION DEPARTMENT, petitioner.
DECISION
For the consideration of the En Banc is a Petition for Revocation against MADAN JIWAN LENDING AND TRADING CORP. for Refusal or Defiance of a Lawful Order of the Commission under Section 6 [l] [3] of P.D. 902-A, as amended. In its Letter-Order dated 26 January 2012, the Commission's ENFORCEMENT AND PROSECUTION DEPARTMENT (EPD) 1 directed the Respondent corporation to immediately comply with the requirements of the Lending Company Act, i.e., to deposit the Minimum Paid-up Capital and to obtain a Certificate of Authority to Operate as a Lending Company. Prior to this, Respondent had also refused the Notices of Conference dated 17 November 2011 and 14 December 2011, as well as the Subpoena Duces Tecum/Ad Testificandum dated 26 December 2011.
Upon verification of its corporate records with the Commission, it appears that Respondent MADAN JIWAN LENDING & TRADING CORP. (SEC Registration No. CS200619699) has not been submitting its reportorial requirements from the time of its...