Cult Founder Rishabh Telang Accused of Signature Forgery in Dispute over Fitness Company's Winding Up

Cult Founder Rishabh Telang Accused of Signature Forgery in Dispute over Fitness Company's Winding Up​

The fast-paced world of high-growth fitness technology faces a major legal challenge as IPO-bound company, Cult.fit, finds itself at the center of serious allegations concerning its founder and corporate structure. Rishabh Telang has been accused by his former co-founder that he forged signatures related to the winding up of Cult Fitness Private Limited. The dispute adds another layer of scrutiny over a startup's founding integrity just as it prepares for public listing.

FIR Alleges Forgery in Original Company Documents​

The controversy centers on documents pertaining to the original Bengaluru-based entity, Cult Fitness Private Limited. Deepak Poduval has accused Telang of forging his signatures on filings that were used to strike off the company. A First Information Report (FIR) was registered by Bellandur Police on August 6, naming Telang and Cult Fitness Private Limited as the accused entities.

Poduval alleged that he discovered these filings this year while reviewing records on the MCA portal. The documents, filed with the Registrar of Companies in 2019, allegedly bore forged versions of his signature. He stated that the company was struck off later that year, resulting in the extinguishment of his entire 50% shareholding without receiving any financial consideration.

Cult.fit’s Clarification on Asset Acquisition and Corporate Status​

Cult.fit, which acquired a majority stake in the business from Cure.fit in 2016, addressed the allegations via media queries. The company stated that neither Cult.fit Limited nor its subsidiaries are accused parties in the FIR. It clarified that the entity cited in the police complaint, Cult Fitness Private Limited, was an independent separate company from the main brand's operations.

Cult.fit confirmed that a subsidiary, CultFit Healthcare Private Limited, acquired certain assets and intellectual property rights from Poduval and Cult Fitness in 2016. These acquired items included the "Cult - The Workout Station" brand name. The company insisted these transactions were conducted under appropriate contractual arrangements for which consideration was duly paid and acknowledged by the complainant.

Telang Denies Charges Citing Co-Founder Involvement​

Rishabh Telang categorically denied the charges of forgery, asserting that he possesses multiple correspondence proving Poduval’s involvement in both the transactions with CultFit Healthcare Pvt. Ltd. and the subsequent winding-up of Cult Fitness Pvt. Ltd. He referenced an MCA email from March 12, 2020, as evidence shared by him and Poduval regarding the company's wind-down process.

Telang maintained that the allegations are entirely without merit. He questioned the timing of the FIR, pointing to a property settlement case filed against him by his sister in July 2026. In a statement, he vowed to address the claims in an appropriate legal forum and noted that he is evaluating all available remedies to protect his reputation due to the defamatory nature of the allegations.

The dispute represents one of several recent instances where startup integrity is questioned ahead of market listings. The case remains unresolved as both sides await judicial process for clarification on the corporate history of the brand.