Amidst fears of negative impact of Special Investigative Team (SIT) recommendation of stricter norms for participatory notes (P-notes) on markets, the government today said a view on the suggestions will be taken only after consultations with SEBI, RBI and others. The Supreme Court-appointed SIT on black money last week recommended a host of measures, including suggesting the securities regulator SEBI to tighten norms related to participatory notes investments into India. <br/><br/>Revenue Secretary Shaktikanta Das said in New Delhi that there should be no uncertainty in market as presently status quo prevails. The SIT had suggested the Securities and Exchange Boardof India (SEBI) to put in place regulations to help identify individuals holding participatory notes or off-shore derivative instruments (ODIs), and take other steps required to curb black money and tax evasion through the stock market route. <br/>Participatory Notes or P-Notes 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.