According to a claim filed in Summary Court on April 10, 2024, Arin Smith is suing Prashanth Puthillath (Z3 Taxi) for the repayment of a $19,500 loan obtained under alleged false pretences.
The claim said that on or about July 12, 2023, Puthillath represented to Smith “that he had imported 6 hybrid vehicles into the Cayman Islands but was unable to pay the import duties of $19,500 to secure their release.”
After the parties reportedly entered into a contract for the loan amount, Smith transferred $19,500 to a Scotiabank account in the name of Z3 Taxi, which is allegedly connected to Puthillath.
The claim explained that the money would be repaid to Smith once the vehicles were released and sold.
Puthillath allegedly failed to repay the loan to Smith and admitted to Smith that “he… had misrepresented the true position in that he had, in fact, secured the release of the vehicles and had sold them on prior to the loan being agreed.”
The claim alleged further that Puthillath admitted to Smith “that he had dissipated the loan money on unrelated matters.”
Although verbal and written requests were reportedly made for the loan repayment, Puthillath allegedly failed to repay the loan.
Smith is now seeking to recover the loan amount on the basis that Puthillath’s non-payment is allegedly a breach of contract.
Smith is now asking the Court to make a judgment in his favour for $19,500, interest and fixed costs.
