THE NATIONAL COMPANY LAW TRIBUNAL (NCLT)

Objectives:The key objectives behind the establishment of National Company Law Tribunal (NCLT) in India:

• To consolidate and streamline corporate dispute resolution: NCLT subsumed powers of multiple bodies like Company Law Board, BIFR, AAIFR etc. into one unified tribunal for faster settlements.
• To improve efficiency in resolution: Specialist combined benches of technical and judicial members ensure quicker adjudication of winding up, mergers, insolvency and other cases.
• To reduce burden on High Courts: Transfer of company law cases from overstretched High Courts has enabled them to focus more on constitutional matters.
• To impart professionalism and expertise: Complex corporate disputes are handled expertly by experienced technical and accountancy members alongside legal experts. 
• To enhance investor confidence: Specialist tribunals boost investor faith in the dispute resolution framework for companies and LLPs in India.
• To adapt globally: Most developed economies have specialized corporate tribunals. NCLT aligned India with global best practices. 
• To expedite cases: Strict timelines are prescribed for resolution to reduce delays and backlogs.
• To improve enforcement: As a unified authority, NCLT ensures better compliance of orders through close coordination between Benches. 
• To strengthen corporate governance: By ensuring timely justice, NCLT deters violations and defaults through strong, deterrent verdicts.

So in summary, NCLT aims to deliver faster, expert resolutions to strengthen India's corporate justice system, encourage investment and improve governance.