If either party applies to the court for leave to adduce additional material evidence, and shows to the satisfaction of the court that there were reasonable grounds for failure to adduce the evidence in the hearing before the securities commissioner, the court may order the additional evidence to be taken before the securities commissioner and to be adduced upon the hearing in such manner and upon such conditions as the court considers proper. The securities commissioner may modify his findings and order by reason of the additional evidence and shall file in court the additional evidence together with any modified or new findings or order.