Former Wimbledon champion Pat Cash, ex-World No.8 Marcos Baghdatis, Poland's Agnieszka Radwanska and India's Saketh Myneni will represent the franchise in the tournament.
The team will play their home matches at the Chhatrapati Shivaji Sports Tennis Complex.
Pune Marathas will play their first match against Hyderabad Aces Nov 18.
The franchise is owned by Mysport, which has been promoted by Rendezvous Group.
"We are very happy that Vijay Amritraj, a tennis legend, has come up with such a wonderful idea and the group has grabbed this opportunity and agreed to participate in CTL and acquired as the CTL will fulfill their dream for development of tennis," team principal Milind Tamhane said in a statement.