Market regulator Securities and Exchange Board of India's board will take up the review of curbs imposed on participatory notes on August 13, but is unlikely to relax them, sources said.

This will be the first review meeting after the curbs were imposed on Participatory Notes last year, sources said adding, "You don't expect the first review meeting to relax curbs."

Participatory notes are the instruments through which unregistered foreign players invest in Indian securities.