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of <h1>Section 273: Powers, timelines and safeguards for winding up petitions, provisional liquidators and alternative remedies for companies</h1> Section 273 of the Companies Act, 2013 empowers the Tribunal, upon a winding-up petition, to dismiss the petition, issue interim orders, appoint a provisional liquidator, order winding up with or without costs, or pass any other appropriate order, all within ninety days of petition presentation. Before appointing a provisional liquidator, the company must generally receive notice and an opportunity to be heard, unless special recorded reasons justify dispensing with notice. The Tribunal cannot refuse winding up merely because the company's assets are fully or overly mortgaged or it has no assets. Where winding up is sought on 'just and equitable' grounds, the Tribunal may refuse if an alternative remedy exists and the petitioners act unreasonably in not pursuing it.
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