(1)

The Chairperson and Members of the Appellate Tribunal shall be appointed by the Central Government from a panel of names recommended by a Selection Committee consisting of-

(a) the Chief Justice of India or his nomineem Chairperson;

(b) the Secretary in the Ministry of Corporate Affairs Member;

(c) the Secretary in the Ministry of Law and Justice Member.

(2)

The term of the Selection Committee and the manner of selection of panel of names shall be such as may be prescribed.