The Karnataka High Court on Tuesday issued notice on a petition filed by Rishabh Telang, co-founder of Cult.fit, seeking to quash an FIR registered against him by the Bellanduru Police on allegations of cheating, forgery, criminal breach of trust and falsification of accounts. The matter was heard before Justice M. Nagaprasanna, who directed notices to the State of Karnataka and the complainant, Deepak Poduval, who is Telang’s brother-in-law and former business associate. The case has been listed for further hearing on September 3, 2026.
The FIR was registered on August 6, 2026, following a complaint by Poduval concerning the takeover of Cult Fitness Private Limited and its subsequent striking off from the register of companies. According to Telang’s case, the events forming the basis of the complaint occurred between 2016 and 2019, during which Cult Fit Healthcare Private Limited took over the business of Cult Fitness Private Limited, which was ultimately struck off on May 18, 2019. Telang and Poduval were both founder subscribers of Cult Fitness Private Limited.
Senior Counsel Sandesh Chouta, appearing for Telang, submitted that the complaint was filed nearly a decade after the alleged events, despite Poduval having full knowledge of the transactions at the time they occurred. Chouta stated that Poduval had acknowledged that Cult Fit Healthcare took over Cult Fitness Private Limited in 2016 and that the latter was struck off in 2019, yet he waited until 2026 to lodge a complaint. The counsel emphasized that Poduval held 20% equity in the company and had consented to the transactions, including the transfer of trademarks, and had subsequently received approximately â‚ą1 crore as consideration.
Chouta further argued that in 2017, Poduval had signed assignment deeds relating to the transfer of intellectual property, which were accompanied by consideration, and that the agreements contained arbitration clauses for dispute resolution. He contended that Poduval had no objection to the trademarks being transferred to the new entity and had accepted the financial consideration, thereby undermining the allegations of forgery and cheating.
The Court noted at the outset that only a notice under Section 35 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) had been issued to Telang, and there was no present apprehension of his arrest. However, the Court declined to stay the investigation and instead issued an emergent notice to the State and the complainant to file their responses. The bench observed that the allegations primarily relate to claims that documents connected to the transfer of Cult Fitness’ business and its subsequent closure were forged, with Poduval alleging that his signatures were fabricated on company records.
The proceedings arise shortly after Cult.fit filed draft papers for its proposed initial public offering (IPO). The case is titled Rishabh Telang v. State of Karnataka & Anr., bearing Case No. CRL.P 12738/2026. The matter remains pending before the Karnataka High Court, with the next hearing scheduled for September 3, 2026.