Prathiba M. Singh, J.

The present Section 34 petition arises out of the impugned award dated 21st December, 2012 passed by the Arbitral Tribunal constituted by the Cotton Association of India (hereinafter the "CAI"), by a 2:1 majority, as also order dated 23rd September, 2013 passed by the Board of Directors of the CAI, dismissing the appeal filed by of the Petitioner, with costs. A preliminary issue as to the maintainability of the present petition has been raised by the Respondent. The present judgment deals with the said preliminary objection.

2. It is submitted on behalf of M/s Louis Dreydus Commodities India Pvt. Ltd. - Respondent (hereinafter, "Respondent") that the arbitration was conducted under the Rules and Bye-laws of the CAI and proceedings were held in CAI's office in Mumbai. Hence, only Courts in Mumbai can entertain a challenge to the said award. The case of M/s Spentex Industries Ltd. - Petitioner (hereinafter, "Petitioner"), on the other hand, is that the contract has an exclusive jurisdiction clause, which vests jurisdiction in the Courts in Delhi and the present petition is, thus, maintainable before this Court.

3. Brief background of the case is that Resp