New Delhi, May 31 -- India's market regulator, the Securities and Exchange Board of India (Sebi) on Friday confirmed the suspension of LS Industries, its promoter, and four other individuals from participating in the securities markets until the results of an investigation into allegations of fraudulent practices and stock price manipulation.

The promoter of LS Industries Profound Finance, Jahangir Panikkaveettil Perumbarambathu, and Suresh Goyal, Alka Sahni, and Shashi Kant Sahni HUF, a Dubai-based NRI public shareholder of LS Industries, have also been prohibited from the markets.

The timeline to complete the probe regarding this matter has been extended to November 15, and these entities are directed to cooperate for the same, Sebi s...