Discuss in brief the provisions for challenging the arbitrator under the Arbitration and Conciliation Act, 1996.

Section 12(3) of the Arbitration and Conciliation Act, 1996, states that an arbitrator may be challenged only if circumstances exist that give rise to justifiable doubts as to his independence or impartiality, or he does not possess the qualifications agreed to by the parties. Section 12(4) of the Arbitration and Conciliation Act, 1996 provides that a party may challenge an arbitrator appointed by him, or in whose appointment he has participated, only for reason, of which he becomes aware after the appointment has been made. Section 12(1) of the Arbitration and Conciliation Act, 1996, provides that when a person is approached in connection with his possible appointment as an arbitrator, he shall disclose in writing any circumstances - such as the existence either direct or indirect, of any past or present relationship with or interest in any of the parties or in relation to the subject matter in dispute, whether financial, business, professional or other kind, which is likely to give rise to justifiable doubts as to his independence or impartiality; and which are likely to affect his ability to devote sufficient time to the arbitration and in particular his ability to complete the entire arbitration within a period of twelve months. According to Section 12(2) of the Arbitration and Conciliation Act, 1996, an arbitrator, from the time of his appointment and throughout the arbitral proceedings, shall, without delay, disclose to the parties in writing any circumstances referred to in sub section (1) unless they have already been informed of them by him. Section 12(5) of the Arbitration and Conciliation Act, 1996 states that notwithstanding any prior agreement to the contrary, any person whose relationship, with the parties or counsel the subject matter of the dispute, falls under any of the categories specified in the Seventh Schedule of the Act shall be ineligible to be appointed as an arbitrator.