business π¨ Cult.fit IPO hits legal snag over family feud
Fitness unicorn Cult.fit is facing legal issues just before its Rs 950-crore IPO. An FIR was registered against co-founder Rishabh Telang by Deepak Poduval in Bengaluru on August 6th. The complaint alleges forgery and cheating related to shutting down Cult Fitness Private Limited. This dispute stems from a 2016 acquisition of assets by a Cult.fit subsidiary. Telang denies the charges, suggesting the FIR timing is connected to a separate property dispute.