Competition Appellate Tribunal was established in accordance with the provisions of the Amendment Act, 2002.
Its function is to hear and dispose of appeals against any direction issued or decision made or order passed by the Competition Commission of India.
The Appellate Tribunal shall also adjudicate on claim for compensation that may arise from the findings of the Competition Commission of India or the orders of the Appellate Tribunal in an appeal against any findings of the Competition Commission of India and pass orders for the recovery of compensation.
It consists of the chairperson, an ex or current judge of Supreme Court or the Chief Justice of a High Court, and two other persons with a professional experience of not less than twenty-five years in, competition matters, including competition law and policy, international trade, economics, business, commerce, law, finance, accountancy, management, industry, public affairs, administration or in any other matter which in the opinion of the Central Government, may be useful to the Appellate Tribunal, appointed by the central government of India.
The Chairperson or a Member of the Appellate Tribunal shall hold office for a term of five years and shall be eligible for re-appointment. Provided that no Chairperson or other Member of the Appellate Tribunal shall hold office after he has attained the age of sixty-eight years or sixty-five years respectively.