M/S EMKAY GLOBAL FINANCIAL SERVICES LTD. vs GINDHAR SONDHI

The Supreme Court addressed the jurisdictional issues arising from an arbitration agreement between a registered broker and its client under the Depositories Act, 1996 and the National Stock Exchange bye-laws. The Court held that the exclusive jurisdiction clause in the agreement mandated that disputes be resolved in Mumbai, thus invalidating the arbitration proceedings conducted in Delhi. The Court emphasized that the arbitration must adhere to the agreed jurisdiction, reinforcing the principle that parties are bound by their contractual terms regarding jurisdiction.