CORPORATE SOCIAL RESPONSIBILITY (CSR) POLICY

Aspire Systems is a global technology services firm serving as a trusted technology partner for our customers. Aspire works with some of the world's most innovative enterprises and independent software vendors, helping them leverage technology and outsourcing in our specific areas of expertise. Aspire’s services include Product Engineering, Enterprise Transformation, Independent Testing Services and IT Infrastructure Support services.
Aspire’s philosophy “Attention. Always” focusses on its three pillars – Customers, Employees and Society. The CSR Policy and initiatives are established to strengthen the “Society” pillar. Aspire has a CSR team monitored by the CSR Committee who work towards meeting the CSR commitments of the Company. Aspire also works with implementation partners like local NGOs, government agencies, private companies etc. as and when needed.

Aspire’s CSR policy intends to:

• Create a broad and structural impact in the society and lead to sustainable development of the society.
• To lay down guidelines for proper execution of CSR activities of the Company.

The CSR Committee shall consist of the following members:

The responsibilities of the CSR committee include:

• Design & Development of a CSR policy
• Recommendation of the CSR policy and activities to be undertaken to the Board of Directors.
• Recommendation of the amount to be contributed for CSR activities.
• Ensure legal and regulatory compliance for CSR activates.
• Review and monitoring of the CSR Policy, budget and activities on a regular basis at least twice in a year.
• Ensure proper reporting and communication to all relevant stakeholders on the Company’s CSR policy and activities.

The Company shall undertake CSR projects in the areas mentioned below including but not limited to the following:

• Promoting employment enhancing vocational skills including but not limited to
  • Making education more effective and quality-oriented, catering to the specific needs of the job market, and hence contribute to job creation.
  • To train students from under privileged backgrounds in its development centers.
  • Impart “Vocational training” and “Skill Development training” to improve life skills;
  • Engage teachers, professors, instructors and experts in various disciplines as may be required ;
  • Establish training and development centers to teach vocational skills
  • Help with knowledge acquisition through various communication medium including internet, television, radio by providing computers, setting up of classrooms etc;
• Environmental Sustainability;
• Promoting healthcare, sanitation and hygiene, including preventive health care;
• Road Safety;
• Eradicating hunger, poverty and malnutrition;
• Livelihood enhancement projects;
• Promoting gender equality;
• Protection of national heritage;
• Contribution to Prime Minister’s National Relief fund, or any other fund set up by the Central Government for socio-economic development;
• Contributions or funds provided to technology incubators located within academic institutions;
• Rural development projects.

The Company shall execute CSR projects with the help of the CSR team appointed and monitored by the CSR Committee. Wherever required, the Company shall associate itself with NGOs, Government Agencies, private companies and other implementation partners who have credible record in the specific areas.

The following procedure will be adhered to while undertaking/ funding CSR activities/ projects through NGOs, societies, trusts, government agencies and other private companies:

• Presentation of Project / program details.
• Execution of Memorandum of Understanding (MoU) with the Partnering NGOs, societies, trusts, government agencies or other private companies, which will detail the key roles and responsibilities of each of the parties for a specified project or projects identified by the Company.
• Scheduling of disbursements of funds relating to the program and monitoring progress in accordance with pre-agreed milestones with partners.

The CSR Committee with the help of CSR Team shall monitor all CSR projects of the Company and provide feedback to the Board of Directors. To ensure the transparency and effective implementation of the CSR projects, the Company shall practice the following monitoring mechanisms:

• Project Site Visits
• Monthly Progress Reports
• Teleconference/Video Conference
• Evidences – Photos, Videos, Press releases etc.
• Other mechanisms with approval from the CSR committee

In addition to the above, the CSR Team shall prepare a comprehensive report on all of its CSR programs twice a year and submit the same to the CSR committee for a review.

The Company shall publish its CSR Policy on its website. In addition, the CSR committee shall prepare a comprehensive report on the CSR projects twice a year and submit it to the Board of Directors. The Board of Directors shall publish the relevant information as part of their Directors Report as per the applicable law.

Amendments from time to time to the CSR Policy, if any, shall be considered by the Board of Directors based on the recommendations of the CSR Committee.