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Innovative and Effective Learning Solutions

CSR Policy

CORPORATE SOCIAL RESPONSIBILITY POLICY ________________________________________________________________________

Definitions

Board means the Board of Directors of the Company.

Company means ‘LearningMate Solutions Private Limited’

CSR Activities means the activities which are undertaken or to which allocation is made by the Company under this CSR Policy, as amended from time to time.

CSR Committee means the Corporate Social Responsibility Committee of the Board of Directors of the Company.

CSR Policy means this Corporate Social Responsibility policy of ‘LearningMate Solutions Private Limited’ as amended from time to time.

CSR provisions means the regulatory provisions governing the CSR activities including the relevant section, rules and schedule under the Companies Act, 2013 or any other act or law as is applicable from time to time.

The Philosophy

As the world’s largest supplier of education technology solutions to the education industry, LearningMate knows how to deliver unique solutions and innovations that facilitate learning. One of the handful CMMI Level 3 certified companies in this space, LearningMate has developed world class processes to help deliver your education technology solutions from start to finish.

Since our inception in 2001, we have focused on education as our primary market. Today we have over 500+ professionals across three countries focused on solving complex learning, content and technology problems. This creates a powerhouse of ed-tech experience that we bring to bear on every customer engagement.

It has always been the endeavour of the Company to be at the forefront with regard to Social and Environmental responsibility. As a responsible corporate citizen, we aim to contribute to social and environmental causes on a regular basis. For us Corporate Social Responsibility (CSR) is an added opportunity to bring value to our stakeholders’ lives and in a small possible way bring about a difference that we all want to see and be. We have been contributing to society since various years. 3

Scope and Applicability

The Policy shall be applicable to all CSR initiatives and activities undertaken by the Company for the benefit of the different segments of the society.

Allocation of Funds

The Company shall spend not less than 2 % of its average net profits for the immediately preceding three financial years or such other minimum amount as specified under the CSR Provisions.

Provided further that the allocation of the funds for CSR activities shall not be at the cost of or in place / stead of the statutory / contractual obligations of the Company towards the government, banks and financial institutions.

Provided further that the surplus arising out of the CSR Projects or Programs or Activities shall not form part of the business profits of the Company.

Provided further that for building up CSR capabilities of its own or that of an outside agency, the Company shall not spend more than 5% of the amount allocated for CSR activities.

Constitution of the CSR committee

Keeping in line with Section 135 of the Companies Act, 2013 (hereinafter referred to as ‘the Act’) read with the applicable rules thereon and any statutory amendments thereto, the Corporate Social responsibility Committee of the Company would consist of the Board of Directors of the Company in light of the private character of our organization.

The Board shall carry out the following functions:

  1. To formulate and recommend to the Board, a Corporate Social Responsibility Policy;
  2. To recommend the amount of expenditure to be incurred on the activities;
  3. To monitor the Corporate Social Responsibility Policy of the Company from time to time.
  4. To formulate action plans to undertake CSR initiatives from time to time as per prescribed specified schedule.
  5. To also decide on the amount of expenditure to be incurred on the initiatives referred to above.
  6. To take stock of the progress of the initiatives and to monitor the implementation of the scheduled initiative.

CSR Initiatives and programs

The CSR committee of the Company will keeping in view, the Companies Act,2013, the Companies (Corporate Social Responsibility Policy) Rules, 2014, any amendment(s) thereto and also pursuant to Schedule VII to the Act recommend and proceed to carry out any of the following activities from time to time as the Committee deems fit:

  1. Eradication of hunger, poverty and malnutrition, promoting healthcare including preventive healthcare and sanitation and making available safe drinking water.
  2. Promoting Education including special education and employment enhancing vocation skills especially among children , women, elderly, and the differently abled and livelihood enhancement projects
  3. Promoting gender equality , empowering women , setting up homes and hostels for women and orphans ; setting up old age homes , day care centres and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups
  4. Ensuring environmental sustainability ecological balance protection of flora and fauna , animal welfare , agroforestry , conservation of natural resources and maintaining the quality of soil, air and water
  5. Protection of national heritage , art and culture including restoration of buildings and sites of historical importance and works of art ; setting up of 6 public libraries ; promotion and development of traditional arts and handicrafts
  6. Measures for the benefit of armed forces veterans , war widows and their dependents
  7. Training to promote rural sports, nationally recognized sports, Paralympic sports and Olympic Sports
  8. Contribution to the Prime Minister’s National relief fund or any other fund set up by the Central government for socio economic development and relief and welfare of Scheduled Castes , the Scheduled Tribes , Other backward classes , minorities and women;
  9. Contributions and funds provided to technology incubators located within academic institutions which are approved by the Central Government.
  10. Rural Development Projects

Fields of Operation of CSR Activities

Within the framework of the CSR provisions, especially schedule VII of the Companies Act, 2013, the CSR Committee shall have full authority to choose and Implement CSR activities / projects / programs even if such activities / projects /programs do not fall within the preferred fields as mentioned above.

CSR in collaboration or through a medium

The CSR Committee will decide the mode of execution of such activities /projects i.e. whether such activities will be carried out by a registered and approved trust or society or a company with an established track record of not less than three years in undertaking similar programs or projects or they will be carried out by team of persons specifically formed for such purpose(s) or such other mode as is within the scope of the CSR Provisions and most suitable for execution of that particular activity / project.

The CSR Committee may also decide to contribute the entire or part of the amount to any fund as is within the scope of CSR Provisions

Prohibited Fields of Operation for CSR Activities

The Company shall not make any allocations to or undertake any CSR activities, programs or projects which are :

  • For the benefit of any particular political party, front or ideology.
  • For the benefit of any particular religion, religious belief or religious sect. – For the benefit of any particular caste or community.
  • For the sole benefit of employees of the Company.

Also, the Company shall not make any allocations to or undertake any CSR activities which are outside the scope of the CSR provisions, especially schedule VII of the Companies Act, 2013.

REPORTING AND MONITORING OF CSR ACTIVITIES

  • In case of closed ended projects / activities, the CSR Committee will, in consultation with the trust / society / team carrying out the implementation of the CSR activity (the Implementing agency) decide about the time limit within which the CSR activity / project is to be completed.
  • Depending upon the time period for completion of the activity / project, the CSR committee will decide upon the reporting frequency. For instance for shorter project / activity (say for one year or less) the reporting frequency may be quarterly or even monthly. For a project / activity of a medium duration (say for two to three years) the reporting frequency may be half yearly. The reporting frequency may be yearly for a project or activity of a longer duration (say three years or more). In case of a continuous CSR activity, the frequency of reporting shall be half yearly.
  • In case of contribution to certain funds, it may not be possible to insist on segregated reporting. In such a case, the reason shall be recorded by the CSR Committee.
  • The implementing agency shall report the progress in the format annexed to CSR Policy.
  • Wherever feasible, the CSR Committee shall depute one of the senior employees of the Company to make site visits, check the records of the Implementing agency or undertake any other due diligence activity to ensure the veracity of the information reported by the Implementing agency and / or generally to verify the progress of the CSR activities. REMOVAL OF DIFFICULTIES
  • Any term not defined in the CSR Policy shall have the meaning ascribed to it under any of the CSR Provisions.
  • The Board shall have power to amend / modify any of the clauses of the CSR Policy and they may do so either at a Board Meeting or by way of a Circular Resolution.
  • The interpretation of any of the terms / clauses etc. of the CSR Policy shall rest with the CSR Committee