C B Bhave, chairman of the Securities and Exchange Board of India [ Images ], said on Monday that the 40 per cent limit on investment through offshore derivative instruments, or Participatory Notes, will be removed.

He said that the Sebi will take up a comprehensive review of the rules governing foreign participation in Indian stock markets.

He also said that there was a beed to review FII structure.

The Sebi meeting was held in light of the global financial turmoil and the impact of the meltdown on the Indian stock markets.

• What are P-Notes?