Step 1: Understanding the Question.
Section 29 of the Arbitration and Conciliation Act, 1996 provides that where there are multiple arbitrators, decisions of the arbitral tribunal should be made by the majority of its members.
Step 2: Analysis of Options.
- (A) shall be made by all members: This is incorrect, as decisions are made by the majority.
- (B) shall be made by 2/3 majority of its members: This is incorrect, as the Act does not specify a 2/3 majority.
- (C) shall be made by the chief arbitrator: This is incorrect, as decisions are made by the majority, not solely the chief arbitrator.
- (D) shall be made by majority of its members: This is the correct answer, as decisions must be made by the majority of the tribunal members.
Step 3: Conclusion.
Thus, the correct answer is (D) shall be made by majority of its members.