Hi viswacse02,
Do you meean the Text of the LinkButton should be the comment it self ..? If so please note the following steps..,
1)For this you need to use Repeater(As you needs Panel, Other wise you could use GridView)
2) In CommandArguement of LinkButton bind PK of the table, and in text bind Your comment, An OnClick="UpdateComment".
3)Now on Click of that button show your modal PopUp from Server side, also at the sametime set the CommandArguement value in some hidden field, Or CommandArguement of Save(Or OK Let say) button. And then show the Popup (Obviously from serverside).
4)Than On saving Comment you need to fire Update Query which Updates that perticular record(as you have the Id on the CommandArguements). And than Rebind the repeater.
Thanks and Regards,
Rk_Hirpara.