Now Reading: Cult founder Rishabh Telang accused of forgery by ex-partner
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Cult founder Rishabh Telang accused of forgery by ex-partner
Cult Fitness co-founder Deepak Poduval has filed an Fir accusing former partner Rishabh Telang of forging his signatures to shut down the original company without his consent. The Bellandur Police in Bengaluru…
The Story in Brief
Cult Fitness co-founder Deepak Poduval has filed an Fir accusing former partner Rishabh Telang of forging his signatures to shut down the original company without his consent. The Bellandur Police in Bengaluru registered the case on August 6 under forgery, cheating and criminal conspiracy, Moneycontrol reports. Poduval says his 50 per cent ownership was wiped out without compensation through documents filed with the Registrar of Companies in 2019.
Cult.fit, which acquired the brand in 2016, says the case involves a separate entity; it denies wrongdoing and insists the transaction was completed properly. Telang, backed by email and MCA records, claims Poduval was involved in the winding-up process and received payment. He has questioned the timing of the Fir, linking it to a property dispute filed by his sister, Poduval's wife. Both sides await court findings.
The Indian Opinion
Forgery allegations between startup co-founders are becoming depressingly common, often surfacing just before a big IPO. But this Fir is about a specific corporate filing, signatures on documents that shut down the original company. One side says the signatures are fake; the other insists the complainant was looped in and paid up. The Registrar of Companies' records will settle it: who filed what, and when, on the MCA portal. The real test is not social media outrage but the forensic examination of those documents in court.
Source: freepressjournal.in
This story was synthesised by AI from the source linked above.
