According to reports from Moneycontrol, CultFit Healthcare co-founder Deepak Poduval has filed an FIR against his former co-founder and brother-in-law Rishabh Telang, alleging that his signatures were forged on documents used to wind up Cult Fitness Private Limited. The FIR was registered by Bellandur Police on August 6, naming Telang and Cult Fitness Private Limited as accused parties. The complaint alleges forgery, cheating and criminal conspiracy, among other offences, related to the winding-up of the original Cult brand company. As per Moneycontrol, the dispute is the second recent instance of a co-founder raising allegations of wrongdoing involving a startup ahead of an IPO, after rental furniture startup Rentomojo co-founder raised concerns over stake transfer and corporate filings. The latest reports indicate the FIR names Telang and Cult Fitness Pvt Ltd as accused and reportedly invokes provisions of the Information Technology Act, with the complaint centering on allegations that forged documents and affidavits were used to remove Poduval from company management and subsequently wind up the entity.
As reported by Moneycontrol, Poduval and Telang founded Cult Fitness in 2015, building the Bengaluru-based fitness chain around group workouts and the Cult brand. In 2016, Cure.fit, founded by Mukesh Bansal and Ankit Nagori, acquired a majority stake in the business, with Cult subsequently becoming part of Cure.fit's fitness operations. According to Cult.fit's statement, its subsidiary CultFit Healthcare Private Limited acquired certain assets and intellectual property from Poduval and Cult Fitness in 2016 under contractual arrangements for consideration that was duly paid and acknowledged by the complainant. Cult.fit clarified that neither Cult.fit Limited nor its subsidiaries, including CultFit Healthcare Private Limited, is an accused party in the FIR, stating that the accused entity was a separate independent company of Poduval's and that its subsidiary acquired assets and intellectual property rights, including the 'Cult - The Workout Station' brand name, under appropriate contractual arrangements. The latest reports indicate that the intellectual property relating to 'Cult The Workout Station' was acquired from Poduval and Cult Fitness in 2016, with consideration paid and the transaction acknowledged by the complainant.
According to Moneycontrol, Poduval alleges that documents filed with the Registrar of Companies in 2019 carried forged signatures and were used to wind up Cult Fitness without his authorisation. He stated he found the filings this year while reviewing Cult Fitness's records on the MCA portal, including filings relating to the company's strike-off that carried what he alleges were forged versions of his signature. 'The company was struck off later that year, and my entire 50% shareholding was extinguished without a rupee of consideration,' Poduval told Moneycontrol. The latest allegations include claims that the business was subsequently diverted to another group entity, with customers, goodwill and revenues allegedly shifted away from the original company. Poduval has also cited a trademark application for 'Cult The Workout Station' as part of the dispute. The complaint further alleges that forged affidavits were used to strike off the company in 2019, with Poduval claiming he discovered the alleged irregularities while reviewing company records in 2026, leading him to approach the police.
As reported by Moneycontrol, Cult.fit said it had not received any communication from authorities and became aware of the matter through media queries. The company clarified that neither Cult.fit Limited nor its subsidiaries, including CultFit Healthcare Private Limited, is an accused party in the FIR. Cult.fit stated that the accused entity was a separate independent company of Poduval's and that its subsidiary acquired assets and intellectual property rights, including the 'Cult - The Workout Station' brand name, from Poduval and Cult Fitness in 2016 under appropriate contractual arrangements. The company emphasized that 'the accused entity, Cult Fitness Private Limited, was a separate independent company of the complainant himself and we did not have any ownership or management control'. According to Cult.fit's latest response, the company seeks to distinguish the current dispute involving Cult Fitness Pvt Ltd from the operations of Cult.fit and its subsidiaries, maintaining that the intellectual property relating to 'Cult The Workout Station' was acquired from Poduval and Cult Fitness in 2016 with proper consideration paid and acknowledged by the complainant.
According to Moneycontrol, Telang has categorically denied forging Poduval's signatures and said Poduval was involved in the transactions with CultFit Healthcare as well as the winding-up of Cult Fitness. He pointed to an MCA email dated March 12, 2020, acknowledging the winding-up of Cult Fitness and said the communication was shared with both him and Poduval. Telang has also disputed the suggestion that Poduval was removed from the company's affairs without his knowledge. The latest reports indicate that Telang has further alleged that the FIR is linked to an ongoing family property dispute, suggesting that the criminal complaint should be viewed in the context of the broader dispute. Telang stated the ongoing case 'appears to have triggered the current action' and said he will address the allegations in the appropriate legal forum as part of the ongoing court proceedings. 'The allegations are entirely without merit, and I remain confident that the facts will emerge through due process,' Telang said, adding that he is 'evaluating all legal remedies available to protect my reputation' given the serious and defamatory nature of the allegations.
