Feedback Through Nominee Directors
The nominee directors not only protect the interest VCIs, but they are also expected to effectively contribute to the management and provide required guidance. They should also ensure that the business is run on a sound basis. Moreover, should be able to anticipate problems and suggest solutions. The nominee directors should before have a good exposure to industry, have adequate knowledge about technological development, changes in government policies, financial management, laws, regulations and so on.
VCIs should receive periodic reports about the operations of projects. These should be properly analysed. The projected and actual performance should be compared and analysed and follow up action initiated.