IPO-Bound Cult.fit Faces Fresh Legal Challenge Over CULT Trademark

In a fresh legal challenge ahead of Cult.fit’s proposed public listing, the Madras High Court (HC) has issued a notice on a petition seeking cancellation of the CULT trademark registration held by one of the company’s subsidiaries.

The rectification petition was filed by Deepak Poduval, who cofounded the CULT fitness business in Bengaluru in 2015. He has approached the court seeking cancellation of the trademark registration held by Cultfit Healthcare Pvt Ltd, a subsidiary of Cult.fit, alleging that the documents used to establish ownership of the brand were forged.

The court issued notice in the matter (OP(TM) No. 51 of 2026) on October 12, 2026. During a hearing on November 5, it adjourned the proceedings to December 2, allowing Cultfit Healthcare to file its response.

Separately, Poduval has approached the Commercial Court in Bengaluru, seeking to have the 2017 deeds that purportedly transferred the CULT brand declared void. He has alleged that the signatures on these documents were forged. The matter is scheduled for its next hearing on November 16.

How The CULT Trademark Dispute Began

The dispute over the CULT trademark dates back to 2015, when Poduval first applied for the ‘CULT – The Workout Station’ trademark in August that year.

Cultfit Healthcare filed a separate trademark application in November 2016, claiming usage of the brand from May 1, 2015 — the same first-use date mentioned in Poduval’s application.

When the Trademark Registry raised objections citing Poduval’s earlier application, Cultfit Healthcare did not produce the alleged assignment deeds. Instead, it claimed to be the prior user and owner of the trademark in its own right.

Poduval has since challenged the validity of the 2017 assignment deeds that purportedly transferred the brand to Cultfit Healthcare. He alleges that his signatures on the documents were forged and has cited a privately commissioned forensic examination that, according to him, supports his allegations.

Cult.fit, however, has denied the allegations, maintaining that Poduval signed the assignment deeds.

In a statement, Poduval said the dispute concerns the ownership of a brand that has become central to a company preparing to go public. He added that investors deserve transparency about how Cult.fit acquired the trademark.

Trademark Dispute Part Of Larger Cofounder Row

The trademark challenge is part of a broader legal battle between CULT’s cofounders, Deepak Poduval and Rishabh Telang, over the transfer of the fitness business’s assets and intellectual property to the Mukesh Bansal-led startup.

In August 2026, Poduval filed an FIR against Telang at Bengaluru’s Bellandur Police Station, alleging forgery, cheating and criminal conspiracy in connection with the 2016 transfer of certain assets and intellectual property from Cult Fitness Pvt Ltd to Cultfit Healthcare Pvt Ltd.

Poduval alleged that Telang forged his signatures on multiple documents used to wind up Cult Fitness, including board resolutions, shareholder consent documents and statutory filings. He also claimed that 50% of his shareholding in the company was extinguished without any consideration.

Telang denied the allegations, maintaining that Poduval was involved in the transactions and the subsequent winding up of Cult Fitness. He further claimed that Poduval had received consideration for the transfer.

Cult.fit also maintained that the transaction was carried out under appropriate contractual arrangements and that the consideration was duly paid and acknowledged by Poduval. The company added that neither it nor its subsidiary was an accused in the FIR.

Following the FIR, Telang moved the Karnataka High Court seeking to quash the case. The court sought responses from Poduval and the state but did not stay the investigation.

The latest petition before the Madras HC takes the dispute beyond the alleged transfer of assets, directly challenging the legal ownership of the CULT trademark held by Cultfit Healthcare.

What The Dispute Means For Cult.fit’s IPO

The trademark challenge also raises questions about how Cult.fit has disclosed the ownership of the CULT brand in its draft IPO prospectus.

In a written response dated October 14 to a complaint filed by Poduval with the Securities and Exchange Board of India (SEBI), Cult.fit acknowledged that its draft prospectus did not correctly describe the ownership of the CULT trademarks.

The company clarified that the trademarks are registered in the name of Cultfit Healthcare Pvt Ltd and not Cult.fit Ltd. It also undertook to correct the disclosure in its final prospectus.

With the subsidiary’s trademark registration now under challenge before the Madras HC, the dispute could become a point of scrutiny for prospective investors.

Poduval has also questioned the company’s treatment of the CULT acquisition in its IPO disclosures. According to his complaint, Cult.fit has described the acquisition as ‘not material’.

While the draft prospectus does not name the acquisition, the company has made the deeds relating to Fitness First, another brand acquired by the group, available for investor inspection. However, the corresponding deeds for CULT have not been made available, Poduval alleged.

The challenge is significant given the extent to which Cult.fit uses the CULT brand across its operations. According to its draft IPO prospectus, hundreds of fitness centres operate under the brand. It also extends to Cult Neo gyms and the company’s Cultgear products business.

If the trademark challenge succeeds, it could potentially affect the group’s rights to use, license or transfer the brand, raising questions about the implications for its operations and brand ownership.

Cult.fit has filed its draft IPO papers for a proposed public issue. The company plans to raise up to ₹950 Cr through a fresh issue of shares, while existing investors are looking to offload up to 17.86 Cr shares through an offer for sale (OFS). The total IPO size is expected to be around ₹4,000 Cr.

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