Highlight the powers of the court on hearing a petition.
ANSWER
On hearing a winding up petition the court may:
• Dismiss it.
• Adjourn the hearing conditionally or unconditionally.
• Make an interim order.
• Make such other or further order as it may deem fit.
However, the court cannot refuse to make a winding up order on the ground only that the assets of the company have been mortgaged to an amount equal to or in excess of those assets or that the company has no assets.