The alleged encounter is mired in controversy as doubts are being raised about its genuineness by opposition Congress and other parties amid surfacing of a video clip and audio tapes that reportedly raised a question over the police version of the incident.
"The single-member commission has been mandated to complete the probe within three months and submit its report to the state government," the notification stated.
The Pandey panel has been directed to probe the "circumstances in which the SIMI members escaped from the prison and the officials responsible for it".
It also asked the commission to recommend steps to be taken to prevent recurrence of such incidents (escaping of prisoners) and any other suggestions it deemed appropriate.
The eight SIMI under-trials had pulled off an audacious escape from the high-security Central Jail on the intervening night of October 30-31 after killing a guard, before they were gunned down in an alleged encounter by police on the outskirts of city on October 31 morning.