Sebi has said the restrictions imposed on Kelvin Fincap and 41 other entities would continue to remain in place till further directions.
The case is related to irregularities in trading of Kelvin Fincap shares.
Securities and Exchange Board of India (Sebi), through an interim order in August 2014, had barred Kelvin Fincap and other entities from the capital markets and also restraining them from raising fresh capital.
Noting that probe is in progress, the regulator in its order dated March 31 said that "the facts and circumstances of the case justify the continuation of the directions passed against the notices under the interim order dated August 14, 2014".
"Accordingly, the directions issued vide the interim order dated August 14, 2014 against the entities...Shall remain in force till further directions," it added.
Sebi had initiated a preliminary inquiry into the rise in traded volumes as well as price of Kelvin Fincap shares on the BSE during the period from June 18, 2013 to May 29, 2014.
It was observed that certain related/connected entities had substantially traded amongst themselves in shares of Kelvin Fincap and created artificial volume and contributed to the artificial price rise.
Sebi had observed that the entities were "instrumental in manipulating trading in scrip of Kelvin by the intricate modus operandi".
