Cult.fit co-founder Rishabh Telang moves Karnataka High Court to quash forgery FIR ahead of IPO

Weeks after fitness platform Cult.fit filed its draft papers for an initial public offering (IPO), its co-founder Rishabh Telang has moved the Karnataka High Court to quash a criminal case recently lodged against him by his brother-in-law [Rishabh Telang Vs State]

Justice M Nagaprasanna on Tuesday issued notice to the State and complainant Deepak Poduval at whose instance the FIR against Telang was lodged.

They were asked to file their responses to Telang's plea.

However, the Court did not pass any interim order staying the investigation in the FIR. During the hearing, the Court noted that the police had issued Telang a notice under Section 35 of the Bharatiya Nagarik Suraksha Sanhita and that there was no immediate apprehension of arrest.

The matter will be heard next on September 2.

The case stemmed from a complaint filed by Poduval, Telang’s brother-in-law and co-founder of Cult Fitness Private Limited, accusing Telang of forging documents connected to the transfer of the original Cult business and the subsequent closure of Cult Fitness Private Limited.

Bellandur Police lodged an FIR against Telang on August 6.

Poduval alleged that he and Telang incorporated Cult Fitness in November 2015 as its only two subscribers, with each holding a 50 per cent stake. According to the complaint, Telang subsequently excluded him from the management of the company and diverted its business, customers, goodwill and revenue to Cultfit Healthcare Private Limited, which was incorporated in August 2016.

Poduval further alleged that his signatures were forged on financial statements and documents submitted to the Registrar of Companies to have Cult Fitness struck off in 2019. He claimed that he discovered the alleged irregularities only after examining the company’s records in May and June 2026.

The FIR invoked provisions of the Bharatiya Nyaya Sanhita concerning criminal breach of trust, cheating, forgery, use of forged documents and criminal conspiracy, along with Section 66D of the Information Technology Act.

Cult.fit Limited and Cultfit Healthcare Private Limited were not named as accused in the FIR. The accused company, Cult Fitness Private Limited, is a separate entity that was struck off in 2019.

Telang argued before the High Court that the complaint was belated and contradicted by contemporaneous documents. His counsel submitted that Poduval knew about the transfer of the company’s trademarks and intellectual property and had signed assignment deeds in 2017.

The Court was told that Poduval had initially sought ₹3 crore and eventually received approximately ₹1 crore under the transaction.

Telang's counsel argued that the assignment deeds contained arbitration clauses and that any dispute arising from them was civil or commercial in nature.

Telang also contended that Poduval held equity in the company and had communicated his consent to the proposed transactions. He maintained that the documents demonstrated Poduval’s knowledge throughout the relevant period.

“This is how the case is made up after ten years,” it was submitted.

Telang further alleged that the criminal complaint was connected to a family dispute. He told the Court that his sister, who is married to Poduval, had instituted a civil suit against Poduval and obtained an injunction.

Poduval was represented by Senior Advocate Promod Nair and advocates Ahaan Mohan and Akanksha Choudhary from Aretha Legal.