Appointment There is no classification of an IP in India. All advocates are eligible to represent parties in liquidation proceedings under the Companies Act 1956. However, they cannot be appointed as liquidators. Restructuring proceedings are held under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA). Advocates, chartered accountants and other experts can represent parties in these proceedings. There is an Official Liquidator (OL) attached to every Company Court in the High Court. The Company Court is vested with liquidation jurisdiction under the Companies Act 1956.