Deepak Poduval, the former co‑founder and brother‑in‑law of Rishabh Telang, has accused Telang of forging his signatures on documents used to wind up Cult Fitness Private Limited, the original company behind the Cult brand.
Poduval and Telang started Cult Fitness in 2015 in Bengaluru. The brand grew into the national chain Cult.fit, which is now preparing for an IPO.
On August 6, Bellandur Police registered an FIR against Telang and Cult Fitness Private Limited. The complaint lists forgery, cheating and criminal conspiracy, among other offences.
Cult.fit says the company named in the FIR is a separate entity. Its subsidiary, CultFit Healthcare Private Limited, bought assets and intellectual property from Poduval and Cult Fitness in 2016 under contractual arrangements.
Poduval claims that documents filed with the Registrar of Companies in 2019 carried forged signatures. He discovered them while reviewing the MCA portal. The filings were related to the company’s strike‑off and, according to him, led to the loss of his 50% shareholding without any payment.
Telang denies forging signatures and says Poduval was involved in the transactions with CultFit Healthcare and the winding‑up process. He cited an MCA email from March 12, 2020, that acknowledged the winding‑up and was shared with both parties.
Telang also pointed out a property‑settlement case filed against Poduval by his sister on July 1, 2026, suggesting that the FIR may be linked to that case.
The allegations remain under investigation. Both parties plan to address the matter in court and through legal channels. The outcome will be decided through due process.