Which of the following statement is not correct in the context of Participatory Notes PNs ........

Economic Affairs Foreign Investment

Which of the following statement is not correct in the context of Participatory Notes (PNs)?

In 1992, India allowed Foreign Institutional Investors (FIIs) to buy stocks listed on Indian exchanges. After getting themselves registered with SEBI.

PNs are essentially Overseas Derivative Instruments

At their peak during 2007, the value of PNs constituted well over 50 per cent of the outstanding assets in the custody of FIIs.

FIIs now controlling negligible per cent of the free float in listed Indian companies.

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Explanation:

4th option is incorrect i.e. FIIs now controlling negligible per cent of the free float in listed Indian companies in the context of Participatory Notes (PNs).
Participatory Notes commonly known as P-Notes or PNs are instruments issued by registered foreign institutional investors (FII) to overseas investors, who wish to invest in the Indian stock markets without registering themselves with the market regulator, the Securities and Exchange Board of India - SEBI.