3.1 Introduction and background Quantum structures based on type-II band alignment material systems such as InP/GaAs [100], ZnSTe/ZnTe [54], SiGe/Si [10] and GaSb/GaAs [7] have received much attention in the recent years due to their applications as photodetectors [7], optical memory devices [52], and solar cells [53]. Apart from these novel device applications, interesting physical phenomenon like Aharonov-Bohm oscillations in the optical spectrum due to the confinement of charge carriers in different regions has also been demonstrated [6]. Ultrathin QWs with typical thickness of 1-2 MLs have been also studied due to their unique electronic and optical properties leading to their use in the optoelectronic devices [8, 137]. The issue of type-II band alignment for InP/GaAs heterostructure has been addressed by several groups, where it is understood that the electrons (holes) are confined in the conduction (valence) band of InP (GaAs) [6, 9, 100, 103]. However, there are some interesting signatures of type-II band alignment phenomenon which