Correct Option (1)

The coding pattern is derived by analyzing the transformation from the word MUMBAI to its code LSJXVC. The rule applied is that each letter in the original word is converted to its corresponding letter in the code by subtracting its sequential position number from its alphabetical position. The alphabetical positions wrap around from A to Z if the subtraction results in a position less than 1.

M (1st letter, alphabetical position 13) - 1 = L (alphabetical position 12).
U (2nd letter, alphabetical position 21) - 2 = S (alphabetical position 19).
M (3rd letter, alphabetical position 13) - 3 = J (alphabetical position 10).
B (4th letter, alphabetical position 2) - 4 = X (alphabetical position 24; 2 - 4 = -2, which is 26 - 2 = 24).
A (5th letter, alphabetical position 1) - 5 = V (alphabetical position 22; 1 - 5 = -4, which is 26 - 4 = 22).
I (6th letter, alphabetical position 9) - 6 = C (alphabetical position 3).

Applying this identical pattern to the word DELHI:

D (1st letter, alphabetical position 4) - 1 = C (alphabetical position 3).
E (2nd letter, alphabetical position 5) - 2 = C (alphabetical position 3).
L (3rd letter, alphabetical position 12) - 3 = I (alphabetical position 9).
H (4th letter, alphabetical position 8) - 4 = D (alphabetical position 4).
I (5th letter, alphabetical position 9) - 5 = D (alphabetical position 4).

Therefore, the code for DELHI is CCIDD.

Incorrect Options:

Options 2, 3, and 4 are incorrect as they do not adhere to the established coding pattern where each letter is shifted backward by its sequential position number.