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When it comes to buying cars, there is a huge difference between being a miser and spending efficiently while valuing every dollar spent. Surely, buying a certified pre-owned car falls under the category of spending efficiently. Notably, the pre-owned car market of California is large. Not only does California rank as the richest state in the United States of America, it is also the most populous state amongst the fifty states. Typically, a certified pre-owned car undergoes refurbishments, inspections and authentic certification processes before it is sold. The processes ensure that the buyer’s risk of purchasing a pre-owned car is minimized. Owing to a wealthy population, the demand for pre-owned cars in California is booming. Therefore, buying a certified pre-owned car in California comes with a few distant requirements that need to be considered before you set out to buy your next car.

So, what are the Requirements of buying a Certified Pre-Owned Car in California?

An Approved Inspection Report

One of the core requirements of a certified pre-owned car is providing proof of authentic certification. According to the law of California, the seller should provide an approved inspection report prior to selling the pre-owned car. The inspection report should specify the components that were inspected by the respective authorities. In case the inspection report is not carried out before the sale is made, the buyer can demand compensation for punitive damages under California’s Consumers Legal Remedies Act. Therefore, an approved inspection report is the basis for buying a certified pre-owned car.

Protection under California’s Lemon Law

Basically, a lemon law protects a buyer from a faulty pre-owned car; wherein the car is unfit to use even after making reasonable attempts to repair it. According to California’s used car lemon law, if the certified pre-owned car contains a warranty of 3 years or has 36,000 miles on the odometer, the buyer is entitled to a refund or buyback. Therefore, a certified pre-owned car is covered under California’s Lemon Law.

Absolute Knowledge of the Protection Plan

Essentially, having complete knowledge of the elements of the protection plan of your certified pre-owned car can give you great insight into the type of car that you are buying. Amongst the total of 28,686,646 cars sold in California, 19.6 percentage of cars are pre-owned cars. As California is the center of wealth and population, it is a good idea to go for cars with add-on protection coverage. For instance, Chevrolet offers bumper to bumper warranty while BMW cars include roadside assistance in their protection plan.

Any pre-owned car is bound to require some mending here and there. However, a certified pre-owned car minimizes the potential damage and maximizes the longevity of the car. As the State of California requires some requirements to be met, it is best to keep the above points in mind while buying a certified pre-owned car in California.

The delisting can also be compulsory in case the company fails to comply with listing obligations of the stock exchange. It could be in many ways such as non-payment of listing fee, investor complaints, or unfair trading practices.

The services of a merchant bank are of much use when a company decides to voluntarily delist its securities. The delisting is done under the guidelines issued by SEBI according to which the first step would be to obtain board approval and then that of the shareholders in shape of a special resolution. A general meeting is conveyed in which the proposal of delisting is presented to obtain consent of the shareholders. A certified copy of this resolution and details of the shareholders is submitted to the said stock exchange from where the company is delisting.

The company has to file required forms with the concerned registrar within thirty days from the date on which the resolution was passed. To provide an exit opportunity to investors of the region offer price of the securities is calculated the floor price is average trading price of preceding twenty-six weeks. The promoter appoints merchant bank for deciding the offer price based on reverse book building process. The promoter has to make a public announcement of the delisting providing inter-alia information including floor price, methodology followed for calculation of offer price, opening and closing date of the offer, and stock market data. Merchant banker companies in India is involved in appointment of trading members, determination of offer price, and settlement process. To protect interests of the investors SEBI has passed delisting guidelines which make it necessary to send offer letter to every shareholder. There is no need of providing an exit route and offer letter, in case the company is listed on a national exchange as the investors can themselves exit by selling their shares as and when they want to give away their ownership.

Corporate Capital Ventures is SEBI registered Merchant Bank working closely with nationwide and regional stock exchanges. It provides consultation services for listing and delisting of shares. CCV has emerged as a leading brand with most professional services provided by a team of market experts.

Conclusion: Merchant Banks provide many financial services to corporates and their assistance is valuable in case of voluntary delisting.

With the emergence of nationwide trading terminals, regional exchanges have lost their relevance also SEBI has de-recognized majority of them. Most companies listed on a regional exchange seek delisting to avoid regulatory obligations and do away with the listing fee. The delisting can also be compulsory in case the company fails to comply with listing obligations of the stock exchange. It could be in many ways such as non-payment of listing fee, investor complaints, or unfair trading practices.

The services of a merchant bank are of much use when a company decides to voluntarily delist its securities. The company delisting in stock exchange is done under the guidelines issued by SEBI according to which the first step would be to obtain board approval and then that of the shareholders in the shape of a special resolution. A general meeting is conveyed in which the proposal of delisting is presented to obtain the consent of the shareholders. A certified copy of this resolution and details of the shareholders is submitted to the said stock exchange from where the company is delisting.

The company has to file required forms with the concerned registrar within thirty days from the date on which the resolution was passed. To provide an exit opportunity to investors of the region offer price of the securities is calculated the floor price is the average trading price of preceding twenty-six weeks. The promoter appoints merchant bank for deciding the offer price based on reverse book building process. The promoter has to make a public announcement of the delisting providing inter-alia information including floor price, the methodology followed for calculation of offer price, opening and closing date of the offer, and stock market data. The merchant bank is involved in the appointment of trading members, determination of offer price, and settlement process. To protect interests of the investors SEBI has passed delisting guidelines which make it necessary to send an offer letter to every shareholder. There is no need of providing an exit route and offer letter, in case the company is listed on a national exchange as the investors can themselves exit by selling their shares as and when they want to give away their ownership.

Corporate Capital Ventures is SEBI registered Merchant Bank, working closely with nationwide and regional stock exchanges. It provides consultation services for listing and delisting of shares. CCV has emerged as a leading brand with most professional services provided by a team of market experts.