LLPs are often used by professional services businesses, like attorneys or accountants because

it protects partners from each other’s professional legal problems, such as negligence or
malpractice. Liability is limited to the amount of money each partner contributes to the LLP.
Zafar and Associates is a law firm Founded in 1975,one of the distinctive global law firm
providing legal services to worldwide clients. It has Conglomerate of over 40 offices situated
in major cities of Pakistan Islamabad, Karachi and Lahore. It Covers law practice areas ranging
from tax, corporate, contract enforcement, intellectual property, litigation and dispute
resolution

A law firm partner is a lawyer who buys into a firm and generates revenue in exchange for a
share of ownership and profits

1 Managing Partner - responsible for firm management, operational, and strategic duties in
addition to legal practice at the firm.

9 Senior Partners -chosen on basis of seniority in years of service

6 Partners

• partnership agreement sets out specific terms and conditions. How to allocate profits
and losses, which roles each will play, how long the partnership will last and how the
business will handle adding and removing partners.

• 18 Senior Associates -  employed by the law firm but do not have ownership of the
business
• 56 Associates, 1 Chartered Accountant, 6 Paralegals- legal assistants, 1 Secretary

The Company was incorporated in Pakistan in 1967 as a Public Limited Company under
Companies Act, 1913 [now Companies Act, 2017]
Engaged in the manufacturing, selling and trading of pharmaceutical such as Imovax Polio and
Stilnox. incorporated on December 8, 1967, as Hoechst Pakistan Limited. In 1977 -went public.
In 2005 following multiple mergers, divestments and acquisitions, the name was changed to
sanofi-aventis. In 2011, changed its identity to Sanofi at a global level.the legal entity continues
to be sanofi-aventis Pakistan limited herein

The composition of the corporation has three contributing groups that control the business of
the corporation:

Shareholders, people who buy and own stock in a corporation, have ownership of the
corporation, Stockholders do not have the right to participate actively in the management of
the business unless they serve as directors and/or officers. However, stockholders do have
certain basic rights, including the right to (1) dispose of their shares, (2) buy additional newly
issued shares in a proportion equal to the percentage of shares they already own (called the
preemptive right), (3) share in dividends when declared, (4) share in assets in case of
liquidation, and (5) participate in management indirectly by voting at the stockholders’
meeting. Stockholders get one vote for every share of stock.

they select the directors when it is first structured and during their meetings held on a yearly
basis.

Board comprises of 11 Directors (6 are Non-Executive, 3 are Independent and 2 are Executive
Directors).

The board of directors formulates the broad policies of the company and selects the principal
officers who execute the policies.The board’s more specific duties include: (1) authorizing
contracts, (2) declaring dividends, (3) establishing executive salaries, and (4) granting
authorization to borrow money. It also has meetings to review and confirm necessary corporate
actions like purchases and the selling of property, composing contracts, and setting corporate
policy.

CEO is responsible for operations of the Company

Board, under the Chairman, performs oversight responsibilities.

The Board develops a vision/mission statement, overall corporate strategy and significant
policies

Board Audit Committee- assists in financial reporting process financial statements that are free
from material misstatement, risk management and compliance with laws and regulations.

HR and Remuneration Committee- Human Resource Policies and succession of CEO, CFO etc.

Board Share Transfer Committee- approves transfer of shares

• Dividend per Share Rs. 30.00

• Dividend to shareholders 289,343
• EPS Rs. 93.9
• No. of shares 9,644,760

The Directors of the Company recommend a final dividend of Rs. 30 per share (300%),
amounting to Rs. 289.343 million subject to the approval of shareholders in the Annual General
Meeting to be held on April 25, 2022