Professional Documents
Culture Documents
Sawadjaan vs. Court of Appeals, 459 SCRA 516, June 08, 2005
Sawadjaan vs. Court of Appeals, 459 SCRA 516, June 08, 2005
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2/27/23, 10:53 PM SUPREME COURT REPORTS ANNOTATED VOLUME 459
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* EN BANC.
517
CHICO-NAZARIO, J.:
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521
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Section 26. Powers of the Board.—The Board of Directors shall have the
broadest powers to manage the Islamic Bank, x x x The Board shall adopt
policy guidelines necessary to carry out effectively the provisions of this
Charter as well as internal rules and regulations necessary for the
conduct of its Islamic banking business and all matters related to
personnel organization, office functions and salary administration.
(Italics ours)
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11 CA Rollo, p. 171.
12 CA Rollo, pp. 175-193.
13 Dated 19 October 1993, CA Rollo, pp. 196.
14 CA Rollo, p. 194.
15 CA Rollo, p. 200.
16 CA Rollo, p. 205.
525
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was denied by the CSC in its Resolution No. 95-2754 dated April
11, 1995. Both acts/resolutions of the CSC are erroneous,
resulting from fraud, falsifications and misrepresentations of the
alleged Chairman and CEO Roberto F. de Ocampo and the alleged
Director
41 Farouk A. Carpizo and his group at the alleged Islamic
Bank.
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39 Supra, Note No. 36, citing Ruiz, Jr. v. Court of Appeals, G.R. No.
101566, 26 March 1993, 220 SCRA 490.
40 Ligon v. Court of Appeals, G.R. No. 127683, 7 August 1998, 294
SCRA 73.
41 Petition for Certiorari, Rollo, pp. 22-23.
529
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531
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OF THE SERVICE.
From the foregoing, we find that the CSC and the court a
quo committed no grave abuse of discretion when they
sustained Sa-
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533
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