In accordance with their agreement for a 3-member arbitral tribunal, 'X' appoints Mr. A1 as his nominee arbitrator; 'Y' appoints Mr. A2 as his nominee arbitrator; and Mr. A1 and Mr. A2 together agree and appoint Ms. A3 as the third arbitrator who will act as the presiding arbitrator. Which of these is true?
1
Mr. A1 and Mr. A2 are meant to protect the interests of 'X' and 'Y' respectively, since that is the whole purpose of having a nominee arbitrator on the tribunal.
2
Mr. A1 must protect the interests of 'Y' and Mr. A2 must protect the interests of 'X', since the scheme of the Arbitration & Conciliation Act, 1996 provides this mechanism to achieve balance in the constitution of the tribunal.
3
Ms. A3 would have the casting vote' in the adjudication process, since she is the presiding arbitrator.
4
All three arbitrator are expected to act with independence and impartiality, regardless of the party that may have nominated or appointed them.