Madras HC issues notice on plea challenging Cult.fit’s ownership of CULT trademark ahead of IPO
Co-founder Deepak Poduval has challenged the trademark registration held by Cultfit Healthcare, alleging that signatures on documents transferring the brand in 2017 were forged. The company has denied the allegations.
The Madras High Court has requested additional information on a legal matter concerning the ownership of the CULT trademark held by Cultfit Healthcare Pvt Ltd, a subsidiary of Cult.fit Ltd. This matter is particularly relevant as Cult.fit Ltd is preparing for its initial public offering (IPO). Deepak Poduval, co-founder of the original CULT fitness business in Bengaluru in 2015, has filed a rectification petition to challenge the subsidiary's trademark registration.
The court initially set a hearing for October 12, but adjourned it to December 2 to allow the registered owner to present its response.
In addition to the trademark issue, Poduval has also taken the matter to the Bengaluru Commercial Court, seeking to have 2017 deeds purportedly transferring the brand declared void. He claims that the signatures on these documents are forged. This suit is set to be heard again on November 16. Cult.fit Ltd has denied these allegations, asserting that Poduval himself signed the assignment deeds.
This dispute has also raised questions about the company's trademark disclosures. In response to Poduval's complaint to the Securities and Exchange Board of India (SEBI), Cult.fit Ltd acknowledged that its draft IPO prospectus incorrectly described the ownership of the CULT trademarks. The company stated that the registrations are held by Cultfit Healthcare Pvt Ltd, not Cult.fit Ltd, and promised to correct this disclosure in its final prospectus.
Poduval first applied for the 'CULT – The Workout Station' trademark in August 2015. Cultfit Healthcare filed its application for the trademark in November 2016, claiming use from May 1, 2015. Poduval now alleges that the signatures on the 2017 assignment deeds are forged, based on a privately commissioned forensic examination. The company has disputed this claim.
The outcome of this legal challenge could have significant implications for the group, which operates hundreds of fitness centers under the CULT brand, including Cult Neo gyms and sells Cultgear products. Should the petition succeed, it could impact the group's rights to use, license, or transfer the trademark. All comments must be in English and written as full sentences, adhering to the community guidelines.
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