Section 273 — Powers of Tribunal

(1) The Tribunal may, on receipt of a petition for winding up under section
272 pass any of the following orders, namely:—
(a) dismiss it, with or without costs;
(b) make any interim order as it thinks fit;
(c) appoint a provisional liquidator of the company till the making of a winding up order;
(d) make an order for the winding up of the company with or without costs; or
(e) any other order as it thinks fit:
Provided that an order under this sub -section shall be made within ninety days from the date of
presentation of the petition:

1. Subs. by Act 31 of 2016, s. 255 and the Eleventh Schedule, for section 272 (w.e.f. 15-11-2016).
2. Subs. by Act 22 of 2019, s. 37, for “or clause (e) of that sub-section” (w.e.f. 15-8-2019).

Provided further that before appointing a provisional liquidator under clause (c), the Tribunal shall give
notice to the company and afford a reasonable opportunity to it to make its representations, if any, unless
for special reasons to be recorded in writing, the Tribunal thinks fit to dispense with such notice:
Provided also that the Tribunal shall not refuse to make a winding up order on the ground only that the
assets of the company have been mortgaged for an amount equal to or in excess of those assets, or that the
company has no assets.
(2) Where a petition is presented on the ground that it is just and equitable that the company should be