The Securities and Exchange Commission (SEC) has cancelled the corporate registration and lending license of Delisha Lending Investor and Trading Corp. due to repeated non-compliance and undisclosed operation of online lending platforms.
In its ruling, the SEC’s Financing and Lending Companies Department found the firm violated rules under the Lending Company Regulation Act. Seven of its officers and directors were fined ₱50,000 each, totaling ₱350,000. Those penalized include chairman and president Maria Ivy Galang, secretary Realyn Joy Ulla, and board members Jocelyn Cordovales, Jay De Guzman, Steven Kumar, Jasweer Kumar, and Mina Komari Gohal.
The violations span more than a decade: Delisha failed to submit required reports such as information sheets, audited financial statements, and semi-annual updates from 2014 to 2025, and did not pay annual regulatory fees. It also neglected to provide updated contact details, impact evaluation reports, and its business plan.
Additionally, the company operated several online lending apps—including Peso Cow – Mabilis Pera Loan, Peso Cow, Bingo Peso: Philippine Cash Loan, and Kapit Cash – Online Quick Loan—without disclosing them to the SEC. It continued running these platforms even after a moratorium on unregistered online lending services took effect.
The SEC said the breaches were “substantial, systemic, and deliberate,” noting the firm ignored official notices and showed no effort to correct its violations. The order said revocation was legally justified and necessary given the extent and duration of non-compliance.
