He took over the post from Justice Altamas Kabir, who served as the CJI for over nine months.
Justice Sathasivam, 64, took oath in the name of God at a brief ceremony at Darbar Hall of Rashtrapati Bhavan.
Prime Minister Manmohan Singh, Vice President Hamid Ansari, UPA Chairperson Sonia Gandhi, Leader of the Opposition in Lok Sabha Sushma Swaraj, her Rajya Sabha counterpart Arun Jaitley, NDA Working Chairperson L K Advani, CPI leader D Raja, several Union ministers were present at the ceremony.
Like his predecessor, Justice Sathasivam is opposed to scrapping of the present Collegium system for appointment of Supreme Court and High Court judges.
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But at the same time, he has admitted that there are drawbacks in the Collegium system and efforts can be made to overcome the shortcomings to ensure transparency.
"There are drawbacks, I accept. But these drawbacks can be settled," he had said yesterday.
Born on April 27, 1949, he enrolled as an advocate in July 1973 at Madras and was appointed as a permanent Judge of the Madras High Court in January, 1996.