IPO-Bound Cult.fit’s Rishabh Telang Denies Forgery Allegations By Deepak Poduval

Deepak Poduval, co-founder of Cult Fitness Pvt Ltd, has filed a criminal complaint against co-founder and brother-in-law Rishabh Telang in Bengaluru's Bellandur Police Station. The allegations include forgery, cheating, and criminal conspiracy related to the 2016 transfer of assets and intellectual property from Cult Fitness to Cultfit Healthcare Pvt Ltd, a subsidiary of the IPO-bound Cult.fit company.

Poduval claims Telang forged his signature on documents related to the transaction, and that he did not receive payments from the deal. Telang denies the accusations and states that he was fully involved in the transactions with Cultfit Healthcare and the winding up of Cult Fitness. Cult.fit, in response, said it is not an accused party in the FIR and that the transaction was conducted under proper contractual arrangements.